Log Out

CB Financial Services, Inc. (NASDAQ:CBFV) Sees Significant Drop in Short Interest

kopsource · Sep 1, 2022 14:32

CB Financial Services, Inc. (NASDAQ:CBFV – Get Rating) was the target of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totalling 8,200 shares, a decrease of 10.9% from the July 31st total of 9,200 shares. Based on an average trading volume of 5,500 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.2% of the company's shares are short sold.

CB Financial Services Trading Up 0.9 %

CBFV stock traded up $0.20 during trading on Thursday, hitting $22.00. The company had a trading volume of 21 shares, compared to its average volume of 6,440. The firm has a market capitalization of $112.40 million, a P/E ratio of 9.56 and a beta of 0.62. CB Financial Services has a 52-week low of $20.49 and a 52-week high of $26.80. The company has a 50 day simple moving average of $22.66 and a 200-day simple moving average of $23.17. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.15.

Get CB Financial Services alerts:

CB Financial Services (NASDAQ:CBFV – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The bank reported $0.05 EPS for the quarter. The company had revenue of $12.27 million for the quarter. CB Financial Services had a net margin of 20.56% and a return on equity of 6.51%. As a group, research analysts forecast that CB Financial Services will post 1.86 earnings per share for the current fiscal year.

CB Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Friday, August 19th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.36%. The ex-dividend date was Thursday, August 18th. CB Financial Services's dividend payout ratio is presently 42.11%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CBFV. State Street Corp increased its stake in CB Financial Services by 10.2% in the 2nd quarter. State Street Corp now owns 11,641 shares of the bank's stock worth $266,000 after buying an additional 1,080 shares during the period. American Century Companies Inc. increased its position in CB Financial Services by 36.4% during the 4th quarter. American Century Companies Inc. now owns 12,376 shares of the bank's stock valued at $298,000 after purchasing an additional 3,304 shares during the period. UMB Bank N A MO purchased a new position in CB Financial Services during the 4th quarter valued at about $298,000. The Manufacturers Life Insurance Company increased its position in CB Financial Services by 1.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 157,095 shares of the bank's stock valued at $3,700,000 after purchasing an additional 2,742 shares during the period. Finally, Petiole USA ltd purchased a new position in CB Financial Services during the 4th quarter valued at about $4,310,000. Hedge funds and other institutional investors own 28.86% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. DA Davidson reissued a "neutral" rating on shares of CB Financial Services in a research note on Wednesday, July 27th. StockNews.com assumed coverage on shares of CB Financial Services in a research note on Thursday, August 25th. They issued a "hold" rating on the stock. Finally, TheStreet downgraded shares of CB Financial Services from a "b" rating to a "c+" rating in a research note on Tuesday, May 24th.

About CB Financial Services

(Get Rating)

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.