Empowered Funds LLC Makes New $1.36 Million Investment in CB Financial Services, Inc. $CBFV

Empowered Funds LLC acquired a new stake in shares of CB Financial Services, Inc. (NASDAQ:CBFV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 35,840 shares of the bank’s stock, valued at approximately $1,358,000. Empowered Funds LLC owned about 0.71% of CB Financial Services at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CBFV. Bank of America Corp DE boosted its holdings in shares of CB Financial Services by 1,093.4% in the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock valued at $109,000 after acquiring an additional 3,488 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of CB Financial Services by 108.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after buying an additional 11,704 shares during the period. Jane Street Group LLC acquired a new stake in shares of CB Financial Services during the first quarter valued at about $537,000. Acadian Asset Management LLC raised its holdings in shares of CB Financial Services by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock valued at $115,000 after buying an additional 966 shares during the period. Finally, Geode Capital Management LLC increased its stake in CB Financial Services by 112.2% during the 2nd quarter. Geode Capital Management LLC now owns 107,608 shares of the bank’s stock worth $3,067,000 after buying an additional 56,889 shares during the period. Hedge funds and other institutional investors own 33.06% of the company’s stock.

CB Financial Services Stock Up 0.1%

Shares of NASDAQ CBFV opened at $37.60 on Friday. The stock’s 50-day simple moving average is $37.21 and its 200-day simple moving average is $35.89. CB Financial Services, Inc. has a 1 year low of $30.97 and a 1 year high of $38.86. The firm has a market cap of $191.01 million, a price-to-earnings ratio of 27.85 and a beta of 0.28. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.85 and a current ratio of 0.85.

CB Financial Services (NASDAQ:CBFV) last released its earnings results on Monday, July 27th. The bank reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.09. CB Financial Services had a return on equity of 10.08% and a net margin of 8.52%.The company had revenue of $15.53 million for the quarter, compared to the consensus estimate of $15.40 million. As a group, equities analysts anticipate that CB Financial Services, Inc. will post 3.21 earnings per share for the current fiscal year.

CB Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.28 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.12 annualized dividend and a yield of 3.0%. CB Financial Services’s dividend payout ratio is 82.96%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. DA Davidson lifted their price objective on shares of CB Financial Services from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods lifted their price target on CB Financial Services from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Zacks Research upgraded CB Financial Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Insider Transactions at CB Financial Services

In other CB Financial Services news, Director John Swiatek sold 1,000 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $37.06, for a total value of $37,060.00. Following the completion of the sale, the director directly owned 12,644 shares of the company’s stock, valued at approximately $468,586.64. This represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Cobain sold 1,500 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.10, for a total value of $55,650.00. Following the sale, the insider directly owned 4,313 shares of the company’s stock, valued at approximately $160,012.30. This represents a 25.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.20% of the stock is owned by insiders.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.