Brokers Offer Predictions for CB Financial Services, Inc.’s FY2024 Earnings (NASDAQ:CBFV)

CB Financial Services, Inc. (NASDAQ:CBFV) – DA Davidson dropped their FY2024 earnings per share (EPS) estimates for CB Financial Services in a note issued to investors on Thursday, October 3rd. DA Davidson analyst M. Navas now forecasts that the bank will post earnings of $2.15 per share for the year, down from their prior forecast of $2.20. The consensus estimate for CB Financial Services’ current full-year earnings is $2.21 per share. DA Davidson also issued estimates for CB Financial Services’ FY2025 earnings at $2.05 EPS.

CBFV has been the subject of several other reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 target price (up from $24.00) on shares of CB Financial Services in a research report on Monday, July 29th. StockNews.com assumed coverage on CB Financial Services in a research note on Monday. They issued a “hold” rating for the company.

CB Financial Services Stock Down 2.6 %

Shares of NASDAQ:CBFV opened at $27.31 on Monday. CB Financial Services has a 52-week low of $20.52 and a 52-week high of $29.50. The company has a market capitalization of $140.43 million, a PE ratio of 6.21 and a beta of 0.57. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a fifty day moving average of $26.36 and a 200-day moving average of $23.73.

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

Institutional Investors Weigh In On CB Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in CB Financial Services by 115.4% in the second quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,119 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in shares of CB Financial Services in the 2nd quarter worth approximately $393,000. Finally, Empowered Funds LLC boosted its stake in shares of CB Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock valued at $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 Dividend Announcement

The business 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 dividend yield of 3.66%. CB Financial Services’s dividend payout ratio (DPR) is presently 22.73%.

About CB Financial Services

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.