CB Financial Services, Inc. (NASDAQ:CBFV) Sees Significant Decline in Short Interest

CB Financial Services, Inc. (NASDAQ:CBFV) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totalling 5,600 shares, a decline of 13.8% from the September 15th total of 6,500 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 4,500 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CBFV. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $25.00 price target (up previously from $24.00) on shares of CB Financial Services in a research note on Monday, July 29th. StockNews.com began coverage on shares of CB Financial Services in a research report on Tuesday. They issued a “hold” rating for the company.

Hedge Funds Weigh In On CB Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in CB Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock valued at $623,000 after purchasing an additional 2,100 shares during the last quarter. Commonwealth Equity Services LLC acquired a new stake in CB Financial Services during the 2nd quarter worth about $393,000. Finally, Acadian Asset Management LLC raised its stake in CB Financial Services by 115.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock worth $46,000 after buying an additional 1,119 shares during the period. 33.06% of the stock is owned by institutional investors and hedge funds.

CB Financial Services Trading Up 2.9 %

Shares of CB Financial Services stock traded up $0.82 on Wednesday, hitting $28.68. 569 shares of the company’s stock traded hands, compared to its average volume of 3,970. CB Financial Services has a one year low of $20.72 and a one year high of $29.50. The firm’s 50-day moving average price is $26.93 and its two-hundred day moving average price is $24.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $147.47 million, a PE ratio of 6.52 and a beta of 0.57.

CB Financial Services (NASDAQ:CBFV) last released its earnings results on Wednesday, July 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%. The firm had revenue of $19.63 million during the quarter, compared to analysts’ expectations of $12.60 million. On average, research analysts expect that CB Financial Services will post 2.19 EPS for the current fiscal year.

CB Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Thursday, August 15th. CB Financial Services’s dividend payout ratio is currently 22.73%.

About CB Financial Services

CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.