CB Financial Services, Inc. (NASDAQ:CBFV – Get Rating) experienced a significant drop in short-term interest rates in April. As of April 15, there was short interest totaling 10,900 shares, down 16.8% from the March 31 total of 13,100 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 7,600 shares, the short interest ratio is currently 1.4 days.
Several equity research analysts have commented on the company. StockNews.com began covering CB financials in a research report on Wednesday, April 27. They issued a “holding” rating on the stock. Zacks Investment Research upgraded CB Financial Services shares from a “hold” rating to a “strong-buy” rating and set a price target of $29.00 on the stock in a Thursday, February 3 report .
In other news from CB Financial Services, Director Karl G. Baily bought 1,000 shares in a trade Thursday, March 3. The shares were purchased at an average cost of $25.75 per share, with a total value of $25,750.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders hold 10.10% of the shares of the company.
Institutional investors and hedge funds have recently changed their stakes in the company. Morgan Stanley increased its stake in shares of CB Financial Services by 26.9% during the 2nd quarter. Morgan Stanley now owns 16,630 shares of the bank worth $369,000 after buying 3,527 additional shares during the period. 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 worth $29,000 after acquiring 843 more shares last quarter. First National Trust Co bought a new stake in CB Financial Services in Q3 worth $203,000. American Century Companies Inc. acquired a new position in CB Financial Services during the third quarter worth $209,000. Finally, Geode Capital Management LLC increased its stake in CB Financial Services by 6.3% during the third quarter. Geode Capital Management LLC now owns 47,616 shares of the bank valued at $1,096,000 after buying 2,807 additional shares last quarter. 30.65% of the shares are currently held by institutional investors.
NASDAQ:CBFV opened at $22.70 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt ratio of 0.13. CB Financial Services has a 52-week low of $21.30 and a 52-week high of $26.80. The stock’s 50-day moving average price is $23.98 and its 200-day moving average price is $24.24. The stock has a market capitalization of $117.13 million, a PE ratio of 10.23 and a beta of 0.68.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Friday, May 20 will receive a dividend of $0.24 per share. The ex-dividend date is Thursday, May 19. This represents a dividend of $0.96 on an annualized basis and a yield of 4.23%. CB Financial Services’ dividend payout ratio is currently 43.24%.
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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