CB Financial Services (NASDAQ:CBFV) Share Price Crosses Below 50 Day Moving Average on Disappointing Earnings

Shares of CB Financial Services, Inc. (NASDAQ:CBFV) passed below its 50-day moving average during trading on Tuesday following a weaker than expected earnings announcement. The stock has a 50-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 trading hands.

The bank reported $0.72 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 net margin of 3.37% and a return on equity of 8.42%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CBFV. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. Zacks Research downgraded CB Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Finally, Keefe, Bruyette & Woods raised their price target on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, October 27th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, CB Financial Services presently has an average rating of “Hold” and an average price target of $36.00.

Insiders Place Their Bets

In related news, EVP Bruce A. Sharp bought 1,000 shares of the stock in a transaction on Tuesday, November 18th. The shares were acquired at an average price of $32.80 per share, for a total transaction of $32,800.00. Following the purchase, the executive vice president owned 1,000 shares of the company’s stock, valued at approximately $32,800. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CBFV. Vanguard Group Inc. boosted its holdings in CB Financial Services by 158.5% in the third quarter. Vanguard Group Inc. now owns 246,068 shares of the bank’s stock worth $8,172,000 after purchasing an additional 150,873 shares during the last quarter. M3F Inc. lifted its holdings in CB Financial Services by 79.8% in the second quarter. M3F Inc. now owns 175,358 shares of the bank’s stock valued at $4,998,000 after acquiring an additional 77,809 shares during the period. Geode Capital Management LLC boosted its position 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 worth $3,067,000 after purchasing an additional 56,889 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of CB Financial Services during the 1st quarter valued at about $537,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of CB Financial Services by 108.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after purchasing an additional 11,704 shares during the period. 33.06% of the stock is owned by hedge funds and other institutional investors.

CB Financial Services Stock Up 1.0%

The company’s 50-day moving average price is $35.14 and its 200 day moving average price is $33.33. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $177.60 million, a PE ratio of 73.86 and a beta of 0.32.

About CB Financial Services

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.