Janney Montgomery Scott LLC lifted its stake in shares of CB Financial Services, Inc. (NASDAQ:CBFV – Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 254,503 shares of the bank’s stock after purchasing an additional 8,497 shares during the quarter. Janney Montgomery Scott LLC owned about 4.97% of CB Financial Services worth $5,525,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of CB Financial Services during the 4th quarter worth approximately $130,000. Dimensional Fund Advisors LP acquired a new stake in CB Financial Services in the 3rd quarter valued at approximately $233,000. State Street Corp increased its position in CB Financial Services by 10.2% in the 2nd quarter. State Street Corp now owns 11,641 shares of the bank’s stock valued at $266,000 after acquiring an additional 1,080 shares during the period. American Century Companies Inc. increased its position in CB Financial Services by 28.7% in the 1st quarter. American Century Companies Inc. now owns 15,928 shares of the bank’s stock valued at $375,000 after acquiring an additional 3,552 shares during the period. Finally, HBK Sorce Advisory LLC increased its position in CB Financial Services by 100.0% in the 4th quarter. HBK Sorce Advisory LLC now owns 41,500 shares of the bank’s stock valued at $889,000 after acquiring an additional 20,750 shares during the period. 29.67% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts recently commented on CBFV shares. StockNews.com started coverage on CB Financial Services in a research report on Wednesday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered their target price on CB Financial Services from $27.00 to $25.00 and set an “outperform” rating on the stock in a research report on Thursday, April 6th.
CB Financial Services Stock Down 1.2 %
CB Financial Services (NASDAQ:CBFV – Get Free Report) last issued its quarterly earnings results on Friday, April 28th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. CB Financial Services had a return on equity of 10.73% and a net margin of 20.14%. The company had revenue of $14.39 million for the quarter. Equities analysts expect that CB Financial Services, Inc. will post 2.8 earnings per share for the current fiscal year.
CB Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.64%. The ex-dividend date was Friday, May 12th. CB Financial Services’s dividend payout ratio (DPR) is presently 41.84%.
Insider Activity
In related news, CEO John Haines Montgomery acquired 1,500 shares of CB Financial Services stock in a transaction dated Monday, May 8th. The stock was acquired at an average cost of $18.65 per share, with a total value of $27,975.00. Following the purchase, the chief executive officer now directly owns 21,550 shares in the company, valued at approximately $401,907.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO John Haines Montgomery acquired 1,500 shares of CB Financial Services stock in a transaction dated Monday, May 8th. The stock was acquired at an average cost of $18.65 per share, with a total value of $27,975.00. Following the purchase, the chief executive officer now directly owns 21,550 shares in the company, valued at approximately $401,907.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John J. Lacarte acquired 7,700 shares of CB Financial Services stock in a transaction dated Monday, June 5th. The shares were bought at an average cost of $18.80 per share, with a total value of $144,760.00. Following the completion of the purchase, the director now owns 7,700 shares in the company, valued at $144,760. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 9,603 shares of company stock worth $180,392. 10.10% of the stock is owned by company insiders.
CB Financial Services 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.
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