CB Financial Services, Inc. (NASDAQ:CBFV – Get Rating) announced a quarterly dividend on Thursday, April 28, Zacks reports. Shareholders of record on Friday May 20 will receive a dividend of 0.24 per share from the bank on Tuesday May 31. This represents a dividend of $0.96 on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Thursday, May 19.
CB Financial Services has increased its dividend by an average of 2.6% per year over the past three years. CB Financial Services has a payout ratio of 37.8%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect CB Financial Services to earn $2.50 per share next year, meaning the company should continue to be able to cover its $0.96 annual dividend. with an expected future payout ratio of 38.4%.
Shares of NASDAQ:CBFV opened at $23.39 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt ratio of 0.13. The company has a market capitalization of $120.69 million, a price-earnings ratio of 10.54 and a beta of 0.71. CB Financial Services has a 1 year minimum of $21.30 and a 1 year maximum of $26.80. The company has a fifty-day simple moving average of $24.13 and a 200-day simple moving average of $24.26.
CB Financial Services (NASDAQ:CBFV – Get Rating) last released its results on Friday, January 28. The bank reported earnings per share of $0.53 for the quarter, beating analysts’ consensus estimate of $0.38 by $0.15. CB Financial Services achieved a return on equity of 8.20% and a net margin of 19.34%. The company had revenue of $18.92 million for the quarter. On average, sell-side analysts expect CB Financial Services to post EPS of 2.15 for the current year.
Separately, director Karl G. Baily purchased 1,000 shares of the company in a trade on Thursday, March 3. The shares were acquired at an average price of $25.75 per share, with a total value of $25,750.00. The acquisition was disclosed in a filing with the SEC, accessible via the SEC’s website. 10.10% of the shares are currently held by insiders.
Several hedge funds have recently increased or reduced their stakes in the company. BlackRock Inc. increased its position in CB Financial Services by 2.9% during the fourth quarter. BlackRock Inc. now owns 14,170 shares of the bank valued at $340,000 after acquiring 405 additional shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in CB Financial Services by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 154,353 shares of the bank worth $3,720,000 after purchasing an additional 3,067 shares during the period. UBS Group AG increased its stake in the shares of CB Financial Services by 196.1% during the third quarter. UBS Group AG now owns 1,913 shares in the bank worth $45,000 after purchasing an additional 1,267 shares during the period. Morgan Stanley increased its position in CB Financial Services shares by 26.9% during the second quarter. Morgan Stanley now owns 16,630 shares of the bank valued at $369,000 after buying an additional 3,527 shares last quarter. Finally, the Royal Bank of Canada increased its stake in CB Financial Services by 172.0% in the second quarter. Royal Bank of Canada now owns 1,333 shares of the bank valued at $29,000 after buying 843 more shares last quarter. 26.55% of the shares are currently held by hedge funds and other institutional investors.
Several brokerages have commented on CBFV. StockNews.com began covering CB Financial Services shares in a research report on Wednesday. They have placed a “holding” rating on the stock. Zacks Investment Research upgraded shares of CB Financial Services from a “hold” rating to a “strong-buy” rating and set a target price of $29.00 on the stock in a Thursday, Feb. 3 research report .
About CB Financial Services (Get a rating)
CB Financial Services, Inc operates as a bank holding company for Community Bank which provides various personal and business banking products and services in Southwestern Pennsylvania, West Virginia and Ohio. The Company’s main deposit products include demand deposits, NOW accounts, money market accounts and savings accounts, as well as term deposit products.
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