CB Financial Services, Inc. (NASDAQ:CBFV) Sees Large Growth in Short Interest

CB Financial Services, Inc. (NASDAQ:CBFV) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 27,300 shares, an increase of 506.7% from the December 15th total of 4,500 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 6,000 shares, the days-to-cover ratio is currently 4.6 days.

Analyst Ratings Changes

Several brokerages recently issued reports on CBFV. DA Davidson upped their target price on shares of CB Financial Services from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com began coverage on shares of CB Financial Services in a research report on Thursday, December 26th. They issued a “hold” rating for the company.

Insider Transactions at CB Financial Services

In related news, Vice Chairman Charles R. Guthrie sold 3,415 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $32.63, for a total value of $111,431.45. Following the completion of the transaction, the insider now directly owns 15,194 shares in the company, valued at approximately $495,780.22. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark E. Fox sold 3,538 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $31.50, for a total transaction of $111,447.00. Following the completion of the transaction, the chairman now owns 11,414 shares of the company’s stock, valued at $359,541. This trade represents a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,703 shares of company stock valued at $247,995. 9.40% of the stock is currently owned by company insiders.

Institutional Trading of CB Financial Services

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of CB Financial Services by 115.4% during the second quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock worth $46,000 after purchasing an additional 1,119 shares during the period. Barclays PLC raised its stake in CB Financial Services by 12.7% in the third quarter. Barclays PLC now owns 8,373 shares of the bank’s stock worth $234,000 after buying an additional 943 shares in the last quarter. Fourthstone LLC bought a new position in CB Financial Services in the third quarter worth about $373,000. Commonwealth Equity Services LLC bought a new position in CB Financial Services in the second quarter worth about $393,000. Finally, De Lisle Partners LLP raised its stake in CB Financial Services by 9.1% in the third quarter. De Lisle Partners LLP now owns 29,255 shares of the bank’s stock worth $823,000 after buying an additional 2,429 shares in the last quarter. 33.06% of the stock is currently owned by hedge funds and other institutional investors.

CB Financial Services Trading Up 2.6 %

NASDAQ CBFV traded up $0.71 during trading on Wednesday, hitting $27.81. 4,631 shares of the company’s stock traded hands, compared to its average volume of 9,098. The stock has a fifty day moving average of $29.82 and a two-hundred day moving average of $27.41. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.87. CB Financial Services has a 12-month low of $20.75 and a 12-month high of $33.72. The firm has a market cap of $142.50 million, a P/E ratio of 6.25 and a beta of 0.60.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings results on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. CB Financial Services had a net margin of 24.51% and a return on equity of 8.27%. The business had revenue of $21.01 million during the quarter, compared to analyst estimates of $12.60 million. As a group, sell-side analysts expect that CB Financial Services will post 2.18 EPS for the current year.

CB Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. CB Financial Services’s dividend payout ratio is currently 22.47%.

CB Financial Services Company Profile

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.