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

by · The Cerbat Gem

CB Financial Services, Inc. (NASDAQ:CBFV – Get Free Report) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 27,300 shares, a growth of 506.7% from the December 15th total of 4,500 shares. Based on an average trading volume of 6,000 shares, the short-interest ratio is presently 4.6 days. Approximately 0.6% of the shares of the company are sold short.

Insider Buying and Selling

In related news, Vice Chairman Charles R. Guthrie sold 3,415 shares of CB Financial Services stock in a transaction on Friday, December 6th. The stock was sold at an average price of $32.63, for a total transaction of $111,431.45. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark E. Fox sold 3,538 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $31.50, for a total value of $111,447.00. Following the sale, the chairman now directly owns 11,414 shares of the company’s stock, valued at $359,541. This represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,703 shares of company stock valued at $247,995 over the last 90 days. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On CB Financial Services

A number of hedge funds have recently bought and sold shares of CBFV. Wilmington Savings Fund Society FSB bought a new stake in shares of CB Financial Services in the 3rd quarter worth about $941,000. Commonwealth Equity Services LLC bought a new stake in CB Financial Services in the second quarter worth about $393,000. Fourthstone LLC purchased a new position in shares of CB Financial Services during the third quarter valued at approximately $373,000. Janney Montgomery Scott LLC boosted its holdings in CB Financial Services by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock valued at $10,204,000 after acquiring an additional 8,143 shares during the period. Finally, Geode Capital Management LLC increased its stake in CB Financial Services by 9.7% in the third quarter. Geode Capital Management LLC now owns 48,357 shares of the bank’s stock worth $1,352,000 after purchasing an additional 4,295 shares during the period. Hedge funds and other institutional investors own 33.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CBFV shares. DA Davidson upped their price target 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 assumed coverage on CB Financial Services in a research report on Thursday, December 26th. They set a “hold” rating for the company.

Check Out Our Latest Stock Report on CB Financial Services

CB Financial Services Price Performance

CBFV traded up $0.53 during trading on Tuesday, hitting $27.26. 5,874 shares of the company traded hands, compared to its average volume of 9,290. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The company has a market cap of $139.68 million, a PE ratio of 6.13 and a beta of 0.60. The stock’s 50-day simple moving average is $29.85 and its two-hundred day simple moving average is $27.38. CB Financial Services has a 1 year low of $20.75 and a 1 year high of $33.72.

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

CB Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, November 15th. CB Financial Services’s dividend payout ratio (DPR) is presently 22.47%.

CB Financial Services Company Profile

(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.

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