CB Financial Services, Inc. (NASDAQ:CBFV) to Post Q3 2024 Earnings of $0.50 Per Share, DA Davidson Forecasts

CB Financial Services, Inc. (NASDAQ:CBFV) – Investment analysts at DA Davidson cut their Q3 2024 earnings per share (EPS) estimates for CB Financial Services in a report issued on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $0.50 for the quarter, down from their prior forecast of $0.52. The consensus estimate for CB Financial Services’ current full-year earnings is $2.21 per share.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $19.63 million for the quarter, compared to analyst estimates of $12.60 million. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%.

Other research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 price target (up previously from $24.00) on shares of CB Financial Services in a research report on Monday, July 29th. StockNews.com initiated coverage on CB Financial Services in a report on Sunday, September 29th. They issued a “hold” rating for the company.

CB Financial Services Trading Up 1.1 %

Shares of CBFV stock opened at $28.04 on Friday. The firm has a fifty day moving average of $26.29 and a 200-day moving average of $23.66. The stock has a market cap of $144.18 million, a price-to-earnings ratio of 6.37 and a beta of 0.57. CB Financial Services has a 52-week low of $20.52 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

CB Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.25 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. CB Financial Services’s dividend payout ratio (DPR) is presently 22.73%.

Institutional Trading of CB Financial Services

Several hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in CB Financial Services by 115.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock worth $46,000 after acquiring an additional 1,119 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in CB Financial Services in the second quarter worth $393,000. Finally, Empowered Funds LLC grew its holdings in shares of CB Financial Services by 7.9% during the first quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 33.06% of the company’s stock.

CB Financial Services Company 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.