CB Financial Services (NASDAQ:CBFV) Shares Cross Below 50-Day Moving Average After Earnings Miss

CB Financial Services, Inc. (NASDAQ:CBFV)’s stock price passed below its fifty day moving average during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock has a fifty day moving average of $35.14 and traded as low as $34.48. CB Financial Services shares last traded at $35.45, with a volume of 2,309 shares traded.

The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). The business had revenue of $14.79 million for the quarter. CB Financial Services had a return on equity of 8.42% and a net margin of 3.37%.

Analysts Set New Price Targets

CBFV has been the subject of several recent research reports. Zacks Research cut shares of CB Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on shares of CB Financial Services from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, CB Financial Services currently has an average rating of “Hold” and an average price target of $36.00.

Insider Buying and Selling

In other CB Financial Services news, EVP Bruce A. Sharp bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were bought at an average cost of $32.80 per share, with a total value of $32,800.00. Following the completion of the acquisition, the executive vice president owned 1,000 shares of the company’s stock, valued at approximately $32,800. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On CB Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in CB Financial Services by 158.5% in the third quarter. Vanguard Group Inc. now owns 246,068 shares of the bank’s stock valued at $8,172,000 after acquiring an additional 150,873 shares during the period. M3F Inc. lifted its stake in shares of CB Financial Services by 79.8% in the 2nd quarter. M3F Inc. now owns 175,358 shares of the bank’s stock valued at $4,998,000 after purchasing an additional 77,809 shares during the period. Geode Capital Management LLC increased its stake in CB Financial Services by 112.2% in the second quarter. Geode Capital Management LLC now owns 107,608 shares of the bank’s stock valued at $3,067,000 after purchasing an additional 56,889 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of CB Financial Services in the first quarter worth about $537,000. Finally, Goldman Sachs Group Inc. increased its position in shares of CB Financial Services by 108.0% during the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after acquiring an additional 11,704 shares in the last quarter. Institutional investors and hedge funds own 33.06% of the company’s stock.

CB Financial Services Stock Performance

The firm has a market capitalization of $177.60 million, a P/E ratio of 73.86 and a beta of 0.32. The stock has a fifty day moving average of $35.14 and a 200-day moving average of $33.33. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.23.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.