Short Interest in CB Financial Services, Inc. (NASDAQ:CBFV) Increases By 37.5%

CB Financial Services, Inc. (NASDAQ:CBFV) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totalling 7,700 shares, an increase of 37.5% from the September 30th total of 5,600 shares. Based on an average daily 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.

Institutional Trading of CB Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in CB Financial Services by 115.4% in the second 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 acquired a new position in shares of CB Financial Services in the 2nd quarter worth approximately $393,000. Empowered Funds LLC boosted its position in shares of CB Financial Services by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after purchasing an additional 2,100 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in CB Financial Services by 2.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock valued at $10,204,000 after purchasing an additional 8,143 shares during the last quarter. 33.06% of the stock is owned by institutional investors and hedge funds.

CB Financial Services Trading Down 0.2 %

CBFV stock traded down $0.07 during trading on Tuesday, reaching $28.41. 2,998 shares of the stock were exchanged, compared to its average volume of 3,906. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $146.08 million, a price-to-earnings ratio of 6.46 and a beta of 0.57. The business has a 50 day moving average price of $27.63 and a 200-day moving average price of $24.54. CB Financial Services has a 1 year low of $20.75 and a 1 year high of $29.50.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings results on Friday, October 25th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $21.01 million for the quarter, compared to analyst estimates of $12.60 million. CB Financial Services had a net margin of 24.64% and a return on equity of 8.61%. On average, research analysts predict that CB Financial Services will post 2.19 earnings per share for the current year.

CB Financial Services Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.