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

by · The Markets Daily

CB Financial Services, Inc. (NASDAQ:CBFV – Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 7,700 shares, a growth of 37.5% from the September 30th total of 5,600 shares. Based on an average trading volume of 4,400 shares, the short-interest ratio is currently 1.8 days. Currently, 0.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

CBFV has been the subject of several research analyst reports. DA Davidson lifted their price objective on CB Financial Services from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday. StockNews.com assumed coverage on CB Financial Services in a research report on Wednesday, October 23rd. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $25.00 price objective (up previously from $24.00) on shares of CB Financial Services in a report on Monday, July 29th.

Get Our Latest Research Report on CB Financial Services

Institutional Investors Weigh In On CB Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its holdings 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 valued at $46,000 after buying an additional 1,119 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of CB Financial Services in the 2nd quarter worth approximately $393,000. Empowered Funds LLC grew its position in shares of CB Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after buying an additional 2,100 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in CB Financial Services by 2.3% in the third quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock worth $10,204,000 after acquiring an additional 8,143 shares during the period. Institutional investors own 33.06% of the company’s stock.

CB Financial Services Price Performance

NASDAQ:CBFV traded down $0.07 during midday trading on Tuesday, hitting $28.41. The company had a trading volume of 2,998 shares, compared to its average volume of 3,906. The company has a market capitalization of $146.08 million, a PE ratio of 6.50 and a beta of 0.57. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. CB Financial Services has a 52-week low of $20.75 and a 52-week high of $29.50. The stock’s fifty day moving average price is $27.56 and its 200-day moving average price is $24.49.

CB Financial Services (NASDAQ:CBFV – Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $21.01 million during the quarter, compared to analysts’ expectations of $12.60 million. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%. As a group, research analysts expect that CB Financial Services will post 2.19 earnings per share for the current year.

CB Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Friday, November 15th. CB Financial Services’s payout ratio is presently 22.73%.

About CB Financial Services

(Get Free Report)

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.

Further Reading