CB Financial Services (NASDAQ:CBFV) Releases Earnings Results, Beats Expectations By $0.10 EPS

CB Financial Services (NASDAQ:CBFV) posted its earnings results on Monday. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10, FiscalAI reports. The company had revenue of $16.02 million during the quarter, compared to analysts’ expectations of $16.25 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.08%.

CB Financial Services Price Performance

Shares of CBFV traded up $0.50 during trading hours on Monday, hitting $39.15. 7,215 shares of the company were exchanged, compared to its average volume of 5,171. The company has a market cap of $198.88 million, a price-to-earnings ratio of 29.00 and a beta of 0.29. CB Financial Services has a fifty-two week low of $31.72 and a fifty-two week high of $39.55. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $37.41 and its 200 day moving average is $36.61.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a report on Monday, September 21st. Keefe, Bruyette & Woods boosted their price objective on CB Financial Services from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Finally, DA Davidson boosted their price objective on CB Financial Services from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CB Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Transactions at CB Financial Services

In related news, Director John Swiatek sold 1,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $37.06, for a total transaction of $37,060.00. Following the completion of the sale, the director owned 12,644 shares of the company’s stock, valued at $468,586.64. This represents a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Cobain sold 1,500 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $37.10, for a total transaction of $55,650.00. Following the sale, the insider owned 4,313 shares in the company, valued at $160,012.30. The trade was a 25.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.20% of the stock is owned by insiders.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.