Board Change • May 21
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 7 highly experienced directors. President, CEO & Director John Montgomery was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Apr 25
CB Financial Services, Inc. Reports Net Charge Offs for the First Quarter Ended March 31, 2026 CB Financial Services, Inc. reported net charge offs for the first quarter ended March 31, 2026. For the quarter, the company's Net charge-offs were $41,000 against $54,000 a year ago. Announcement • Apr 24
CB Financial Services, Inc. announces Quarterly dividend, payable on May 29, 2026 CB Financial Services, Inc. announced Quarterly dividend of USD 0.2800 per share payable on May 29, 2026, ex-date on May 15, 2026 and record date on May 15, 2026. Announcement • Mar 02
CB Financial Services, Inc., Annual General Meeting, May 20, 2026 CB Financial Services, Inc., Annual General Meeting, May 20, 2026. Location: ralph j. sommers, jr. operations center located at 600 evergreene dr, pennsylvania., waynesburg United States Announcement • Jan 01
CB Financial Services, Inc. and Community Bank Announces Resignation of Craig L. Kauffman as Director, Effective December 29, 2025 Effective December 29, 2025, Craig L. Kauffman resigned from the Board of Directors of CB Financial Services, Inc. and the Board of Directors of Community Bank, the Company's bank subsidiary. Mr. Kauffman informed the Company that his resignation was for personal reasons and not related to a disagreement with the Company on any matter related to its operations, policies or practices. Both the Company and the Bank have reduced the size of its Board of Directors to eliminate the vacancy created by Mr. Kauffman's resignation. Announcement • Nov 25
Craig L. Kauffman Joins Boards of Directors of CB Financial Services, Inc. and Community Bank CB Financial Services, Inc. announced that Craig L. Kauffman has been appointed to the Board of Directors, effective November 20, 2025. Mr. Kauffman was also appointed to the Board of Directors of Community Bank. In addition, Mr. Kauffman was appointed to serve on the Audit and Compliance Committees of the Company's Board of Directors. Mr. Kauffman is a distinguished financial services executive with nearly four decades of leadership experience in banking and wealth management. Most recently, he served as President and Chief Executive Officer of Codorus Valley Bancorp, Inc. and PeoplesBank, providing strategic and operational leadership for the $2.2 billion asset company. Under his guidance, the organization successfully completed a merger of equals with Orrstown Financial Corporation in July 2024. Prior to Codorus Valley, Mr. Kauffman served as Central Pennsylvania Regional President for BB&T Bank (now Truist) from 2015 to 2018, overseeing $6 billion in assets and deposits, 80 retail locations, and 500 associates. In addition, Mr. Kauffman's career includes senior leadership positions at Susquehanna Bank (Pennsylvania CEO), PNC Bank (Corporate Institutional Bank Market Leader), and executive roles at Bay First Bank, Pennsylvania State Bank, Bank of Lancaster County, Wachovia Bank, and CoreStates Bank. His expertise spans commercial banking, wealth management, mergers and acquisitions, and strategic transformation. Mr. Kauffman is deeply committed to community service, currently serving as Trustee Vice-Chair of Millersville University School of Business and holding board positions with Safari Club International Foundation and Safari Club International, where he previously served as President (2013-2015). He is an active member of the Lancaster Chamber of Commerce, where he previously served as Board Chairman. Mr. Kauffman holds an MBA from Pennsylvania State University Harrisburg and a Bachelor of Science from Millersville University of Pennsylvania. Announcement • Oct 24
CB Financial Services, Inc. Declares Cash Dividend, Payable on or About November 28, 2025 On October 23, 2025, CB Financial Services, Inc. announced that its Board of Directors declared a cash dividend on the Company's outstanding shares of common stock. The dividend of $0.26 per share will be paid on or about November 28, 2025 to stockholders of record as of the close of business on November 14, 2025. Announcement • Sep 05
CB Financial Services, Inc. (NasdaqGM:CBFV) announces an Equity Buyback for $5 million worth of its shares. CB Financial Services, Inc. (NasdaqGM:CBFV) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its shares. The repurchase program is valid till September 30, 2026. Announcement • Jul 23
Cb Financial Services, Inc. Declares Regular Quarterly Dividend, Payable on or About August 29, 2025 CB Financial Services, Inc. Board of Directors has approved a 4.0% increase in the regular quarterly dividend by declaring a $0.26 quarterly cash dividend per outstanding share of common stock, payable on or about August 29, 2025, to stockholders of record as of the close of business on August 15, 2025. Announcement • Apr 25
CB Financial Services, Inc. Announces Declares Quarterly Cash Dividend, Payable on or About May 30, 2025 CB Financial Services, Inc. declared a $0.25 quarterly cash dividend per outstanding share of common stock, payable on or about May 30, 2025, to stockholders of record as of the close of business on May 16, 2025. Announcement • Mar 07
CB Financial Services, Inc., Annual General Meeting, May 21, 2025 CB Financial Services, Inc., Annual General Meeting, May 21, 2025. Location: ralph j. sommers jr. operations center, located at 600 evergreene, dr. in waynesburg, pennsylvania United States Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: US$0.82 (up from US$0.81 in 1Q 2023). Revenue: US$13.5m (down 3.4% from 1Q 2023). Net income: US$4.20m (up 1.0% from 1Q 2023). Profit margin: 31% (up from 30% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 49%. Revenue is expected to decline by 14% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.0%. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • May 01
Fourth quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 14th May 2024 Payment date: 31st May 2024 Dividend yield will be 4.5%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (46% forecast payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 59% over the next 2 years. However, it would need to fall by 75% to increase the payout ratio to a potentially unsustainable range. Announcement • Apr 28
CB Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on or About May 31, 2024 CB Financial Services, Inc.’s Board of Directors declared a $0.25 quarterly cash dividend per outstanding share of common stock, payable on or about May 31, 2024, to stockholders of record as of the close of business on May 15, 2024. Reported Earnings • Mar 15
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$4.41 (up from US$2.19 in FY 2022). Revenue: US$69.0m (up 41% from FY 2022). Net income: US$22.6m (up 100% from FY 2022). Profit margin: 33% (up from 23% in FY 2022). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.29% (up from 3.25% in FY 2022). Cost-to-income ratio: 56.6% (down from 66.1% in FY 2022). Non-performing loans: 0.20% (down from 0.55% in FY 2022). Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 7.8%. Revenue is expected to decline by 14% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 5.9%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 24
CB Financial Services, Inc., Annual General Meeting, May 15, 2024 CB Financial Services, Inc., Annual General Meeting, May 15, 2024, at 09:00 Eastern Daylight. Location: Ralph J. Sommers, Jr. Operations Center located at 600 EverGreene Dr Waynesburg Pennsylvania United States Upcoming Dividend • Feb 07
Upcoming dividend of US$0.25 per share at 4.4% yield Eligible shareholders must have bought the stock before 14 February 2024. Payment date: 29 February 2024. Trailing yield: 4.4%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.3%). Declared Dividend • Feb 04
Fourth quarter dividend of US$0.25 announced Dividend of US$0.25 is the same as last year. Ex-date: 14th February 2024 Payment date: 29th February 2024 Dividend yield will be 4.2%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (23% payout ratio) and is expected to be well covered in 3 years' time (48% forecast payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 61% over the next 2 years. However, it would need to fall by 75% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 02
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: US$4.41 (up from US$2.19 in FY 2022). Revenue: US$69.0m (up 41% from FY 2022). Net income: US$22.6m (up 100% from FY 2022). Profit margin: 33% (up from 23% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 7.8%. Revenue is expected to decline by 14% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 5.6%. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Feb 01
CB Financial Services, Inc. Declares Cash Dividend, Payable on or About February 29, 2024 On January 31, 2024, CB Financial Services, Inc. announced that its Board of Directors declared a cash dividend on the Company's outstanding shares of common stock. The dividend of $0.25 per share will be paid on or about February 29, 2024 to stockholders of record as of the close of business on February 15, 2024. Announcement • Dec 21
CB Financial Services, Inc. and Community Bank Announce the Retirement of Joseph N. Headlee as Director CB Financial Services, Inc. announced that effective December 20, 2023, Joseph N. Headlee retired as a director of the company and its bank subsidiary, Community Bank. Concurrent with his retirement, both the Company and Community Bank reduced the size of its Board of Directors to eliminate the vacancy. Major Estimate Revision • Dec 05
Consensus EPS estimates increase by 66% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from US$2.44 to US$4.04. Revenue forecast unchanged at US$54.1m. Net income forecast to shrink 5.5% next year vs 10% decline forecast for Banks industry in the US. Consensus price target of US$23.50 unchanged from last update. Share price rose 7.0% to US$23.30 over the past week. Announcement • Dec 02
Richard B. Boyer Resigns as Director of Community Bank, CB Financial Services, Inc. and Exchange Underwriters, Inc On December 1, 2023, Community Bank (the “Bank”), the wholly owned subsidiary of CB Financial Services, Inc. (the “Company”), and Exchange Underwriters, Inc. (“Exchange Underwriters”), the full-service independent insurance agency subsidiary of the Bank, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with World Insurance Associates, LLC (“World”) and John H. Montgomery, in his capacity as the Selling Parties’ Earn-out Payment Representative, pursuant to which Exchange Underwriters will sell substantially all of its assets to World for a purchase price of $30.5 million cash purchase price plus possible additional earn-out payments (the “Transaction”). In connection with the execution of the Purchase Agreement, the Bank, Exchange Underwriters and Richard B. Boyer, President of Exchange Underwriters, entered into a Settlement and Release Agreement, dated as of December 1, 2023 (“Settlement Agreement”). The Settlement Agreement provides that the Employment Agreement, dated as of April 14, 2014 by and among the Bank, Exchange Underwriters and Mr. Boyer, will terminate on the closing date of the Transaction, and Mr. Boyer will no longer be entitled to any payments or benefits under such agreement. Additionally, under the Settlement Agreement, Mr. Boyer will resign as a director of each of the Company, the Bank and Exchange Underwriters as of the closing date of the Transaction. Upcoming Dividend • Nov 07
Upcoming dividend of US$0.25 per share at 4.7% yield Eligible shareholders must have bought the stock before 14 November 2023. Payment date: 30 November 2023. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 4.7%. Lower than top quartile of American dividend payers (5.1%). Higher than average of industry peers (3.8%). Reported Earnings • Oct 29
Third quarter 2023 earnings released: EPS: US$0.52 (vs US$0.77 in 3Q 2022) Third quarter 2023 results: EPS: US$0.52 (down from US$0.77 in 3Q 2022). Revenue: US$12.7m (down 7.5% from 3Q 2022). Net income: US$2.67m (down 32% from 3Q 2022). Profit margin: 21% (down from 29% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Cb Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on or About November 30, 2023 CB Financial Services, Inc. declared a $0.25 quarterly cash dividend per outstanding share of common stock, payable on or about November 30, 2023, to stockholders of record as of the close of business on November 15, 2023. Board Change • Sep 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. President, CEO & Director John Montgomery was the last director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Aug 07
Upcoming dividend of US$0.25 per share at 4.4% yield Eligible shareholders must have bought the stock before 14 August 2023. Payment date: 31 August 2023. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 4.4%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.4%). Price Target Changed • Aug 03
Price target increased by 8.7% to US$25.00 Up from US$23.00, the current price target is an average from 2 analysts. New target price is 12% above last closing price of US$22.40. Stock is down 3.4% over the past year. The company is forecast to post earnings per share of US$2.60 for next year compared to US$2.19 last year. New Risk • Jul 31
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 6.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 6.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Jul 31
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: US$0.54 (up from US$0.023 in 2Q 2022). Revenue: US$13.0m (up 53% from 2Q 2022). Net income: US$2.76m (up US$2.64m from 2Q 2022). Profit margin: 21% (up from 1.4% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 3.4% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Price Target Changed • Jun 28
Price target decreased by 8.0% to US$23.00 Down from US$25.00, the current price target is an average from 2 analysts. New target price is 14% above last closing price of US$20.22. Stock is down 7.8% over the past year. The company is forecast to post earnings per share of US$2.71 for next year compared to US$2.19 last year. Recent Insider Transactions • Jun 10
Independent Director recently bought US$145k worth of stock On the 5th of June, John LaCarte bought around 8k shares on-market at roughly US$18.80 per share. This transaction amounted to 6.3% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$227k more in shares than they have sold in the last 12 months. Announcement • Jun 08
CB Financial Services, Inc. and Community Bank Announces Retirement of Karl G. Baily Retired as A Director Effective June 1, 2023, Karl G. Baily retired as a director of CB Financial Services, Inc. (the “Company”) and its bank subsidiary, Community Bank. Concurrent with his retirement, both the Company and Community Bank reduced the size of its Board of Directors to eliminate the vacancy. Upcoming Dividend • May 05
Upcoming dividend of US$0.25 per share at 4.9% yield Eligible shareholders must have bought the stock before 12 May 2023. Payment date: 31 May 2023. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of American dividend payers (5.1%). Higher than average of industry peers (3.8%). Reported Earnings • Mar 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$2.19. Revenue: US$48.9m (down 15% from FY 2021). Net income: US$11.2m (down 2.8% from FY 2021). Profit margin: 23% (up from 20% in FY 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 8.5% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US. Board Change • Feb 26
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. President, CEO & Director John Montgomery was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 18
CB Financial Services, Inc., Annual General Meeting, May 17, 2023 CB Financial Services, Inc., Annual General Meeting, May 17, 2023, at 09:00 Eastern Daylight. Location: Ralph J. Sommers, Jr. Operations Center 600 EverGreene Dr. Waynesburg Pennsylvania United States Major Estimate Revision • Feb 07
Consensus EPS estimates increase by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from US$54.9m to US$57.0m. EPS estimate increased from US$2.50 to US$2.80 per share. Net income forecast to grow 26% next year vs 8.1% growth forecast for Banks industry in the US. Consensus price target up from US$25.00 to US$25.50. Share price was steady at US$22.19 over the past week. Upcoming Dividend • Feb 07
Upcoming dividend of US$0.25 per share at 4.6% yield Eligible shareholders must have bought the stock before 14 February 2023. Payment date: 28 February 2023. Trailing yield: 4.6%. Within top quartile of American dividend payers (4.2%). Higher than average of industry peers (2.9%). Reported Earnings • Jan 28
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: US$2.19. Revenue: US$48.9m (down 15% from FY 2021). Net income: US$11.2m (down 2.8% from FY 2021). Profit margin: 23% (up from 20% in FY 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US. Recent Insider Transactions Derivative • Dec 08
President exercised options to buy US$68k worth of stock. On the 6th of December, John Montgomery exercised options to buy 3k shares at a strike price of around US$18.60, costing a total of US$56k. This transaction amounted to 17% of their direct individual holding at the time of the trade. Since March 2022, John has owned 17.60k shares directly. Company insiders have collectively bought US$302k more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Nov 10
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 17 November 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (3.0%). Reported Earnings • Oct 29
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: US$0.77 (up from US$0.37 in 3Q 2021). Revenue: US$13.7m (up 13% from 3Q 2021). Net income: US$3.93m (up 98% from 3Q 2021). Profit margin: 29% (up from 16% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 6.4%. Earnings per share (EPS) also surpassed analyst estimates by 37%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Oct 28
CB Financial Services, Inc. Declares Quarterly Cash Dividend, Payable on or About November 30, 2022 CB Financial Services, Inc.’s Board of Directors has declared a $0.24 quarterly cash dividend per outstanding share of common stock, payable on or about November 30, 2022, to stockholders of record as of the close of business on November 18, 2022. Upcoming Dividend • Aug 11
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 18 August 2022. Payment date: 31 August 2022. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.2%. Within top quartile of American dividend payers (4.1%). Higher than average of industry peers (3.1%). Price Target Changed • Aug 04
Price target decreased to US$25.00 Down from US$27.00, the current price target is an average from 2 analysts. New target price is 7.8% above last closing price of US$23.20. Stock is down 2.7% over the past year. The company is forecast to post earnings per share of US$1.82 for next year compared to US$2.15 last year. Reported Earnings • Jul 29
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: EPS: US$0.023 (up from US$0.041 loss in 2Q 2021). Revenue: US$8.47m (down 37% from 2Q 2021). Net income: US$118.0k (up US$341.0k from 2Q 2021). Profit margin: 1.4% (up from net loss in 2Q 2021). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 94%. Over the next year, revenue is forecast to grow 7.9%, compared to a 15% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jul 29
CB Financial Services, Inc. Declares Quarterly Cash Dividend for Outstanding Share of Common Stock, Payable on or About August 31, 2022 CB Financial Services, Inc. declared a $0.24 quarterly cash dividend per outstanding share of common stock, payable on or about August 31, 2022, to stockholders of record as of the close of business on August 19, 2022. Announcement • Jun 15
CB Financial Services, Inc. (NasdaqGM:CBFV) acquired unknown stake in Action SST inc. CB Financial Services, Inc. (NasdaqGM:CBFV) acquired unknown stake in Action SST inc. on June 13, 2022. Action SST will team up with a new financial partner, GCBF inc.
CB Financial Services, Inc. (NasdaqGM:CBFV) completed the acquisition of unknown stake in Action SST inc on June 13, 2022. Upcoming Dividend • May 12
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 19 May 2022. Payment date: 31 May 2022. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 4.3%. Within top quartile of American dividend payers (4.1%). Higher than average of industry peers (3.0%). Reported Earnings • May 01
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: US$0.59 (up from US$0.52 in 1Q 2021). Revenue: US$12.5m (down 4.9% from 1Q 2021). Net income: US$3.05m (up 7.1% from 1Q 2021). Profit margin: 24% (up from 22% in 1Q 2021). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) exceeded analyst estimates by 14%. Over the next year, revenue is expected to shrink by 3.5% compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 27
Price target increased to US$27.00 Up from US$25.00, the current price target is an average from 2 analysts. New target price is 14% above last closing price of US$23.69. Stock is up 11% over the past year. The company is forecast to post earnings per share of US$2.23 for next year compared to US$2.15 last year. Buying Opportunity • Apr 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 2.4%. The fair value is estimated to be US$30.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 1.3% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Announcement • Apr 22
CB Financial Services, Inc. (NasdaqGM:CBFV) announces an Equity Buyback for $10 million worth of its shares. CB Financial Services, Inc. (NasdaqGM:CBFV) announces a share repurchase program. Under the program, the company will repurchase up to $10 million worth of its shares. Announcement • Apr 09
CB Financial Services, Inc., Annual General Meeting, May 18, 2022 CB Financial Services, Inc., Annual General Meeting, May 18, 2022, at 09:00 Eastern Daylight. Location: Ralph J. Sommers, Jr. Operations Center of Community Bank 600 EverGreene Drive Waynesburg Pennsylvania United States Agenda: To consider electing five directors to serve for a term of three years; to ratify the appointment of BKD, LLP to serve as the independent registered public accounting firm for the fiscal year ending December 31, 2022; to hold an advisory (non-binding) vote to approve the compensation of the named executive officers as disclosed in the accompanying proxy statement; and to transact such other business as may properly come before the meeting and any adjournment or postponement of the meeting. Buying Opportunity • Apr 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.6%. The fair value is estimated to be US$30.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to decline by 1.3% in 2 years. Earnings is forecast to grow by 13% in the next 2 years. Reported Earnings • Mar 14
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$2.15 (up from US$1.97 loss in FY 2020). Revenue: US$57.5m (up 21% from FY 2020). Net income: US$11.6m (up US$22.2m from FY 2020). Profit margin: 20% (up from net loss in FY 2020). Net interest margin (NIM): 2.94% (down from 3.32% in FY 2020). Cost-to-income ratio: 76.0% (down from 110.5% in FY 2020). Non-performing loans: 0.71% (down from 1.39% in FY 2020). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Over the next year, revenue is expected to shrink by 9.0% compared to a 5.9% growth forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Buying Opportunity • Mar 09
Now 20% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be US$30.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.6% per annum over the last 3 years. The company has become profitable over the last year. Upcoming Dividend • Feb 10
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 17 February 2022. Payment date: 28 February 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 3.7%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.2%). Price Target Changed • Feb 04
Price target increased to US$27.00 Up from US$25.00, the current price target is an average from 2 analysts. New target price is 6.1% above last closing price of US$25.45. Stock is up 39% over the past year. The company is forecast to post earnings per share of US$2.13 for next year compared to US$2.15 last year. Recent Insider Transactions Derivative • Feb 04
Senior Executive VP exercised options to buy US$187k worth of stock. On the 1st of February, Ralph Burchianti exercised options to buy 8k shares at a strike price of around US$22.25, costing a total of US$167k. This transaction amounted to 11% of their direct individual holding at the time of the trade. Since March 2021, Ralph has owned 80.62k shares directly. Company insiders have collectively bought US$410k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Jan 31
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$2.15 (up from US$1.97 loss in FY 2020). Revenue: US$57.5m (up 21% from FY 2020). Net income: US$11.6m (up US$22.2m from FY 2020). Profit margin: 20% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.5%. Over the next year, revenue is expected to shrink by 14% compared to a 4.1% growth forecast for the banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Dec 22
CB Financial Services, Inc. announced that it has received $15 million in funding On December 21, 2021, CB Financial Services, Inc. closed the transaction. The transaction included participation from 13 investors. Announcement • Dec 12
CB Financial Services, Inc. announced that it expects to receive $15 million in funding CB Financial Services, Inc. announced a private placement of 3.875% Fixed-to-Floating Rate Subordinated Notes due 2031 for gross proceeds of $15,000,000 on December 10, 2021. The notes initially bear interest, payable semi-annually in arrears at a fixed interest rate. The transaction will include participation from certain qualified institutional buyers and institutional investors. The company has option to redeem the notes at par and in whole or in part beginning on December 15, 2026. Upcoming Dividend • Nov 11
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 18 November 2021. Payment date: 30 November 2021. Trailing yield: 4.0%. Within top quartile of American dividend payers (3.4%). Higher than average of industry peers (2.2%). Price Target Changed • Nov 02
Price target increased to US$24.50 Up from US$22.50, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of US$24.20. Stock is up 12% over the past year. The company is forecast to post earnings per share of US$1.61 next year compared to a net loss per share of US$1.97 last year. Reported Earnings • Oct 30
Third quarter 2021 earnings released: EPS US$0.37 (vs US$3.22 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$12.2m (up 7.2% from 3Q 2020). Net income: US$1.98m (up US$19.4m from 3Q 2020). Profit margin: 16% (up from net loss in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Recent Insider Transactions Derivative • Sep 14
President exercised options to buy US$69k worth of stock. On the 13th of September, John Montgomery exercised options to buy 3k shares at a strike price of around US$18.60, costing a total of US$56k. This transaction amounted to 25% of their direct individual holding at the time of the trade. Since September 2020, John's direct individual holding has increased from 7.10k shares to 12.10k. Company insiders have collectively bought US$265k more than they sold, via options and on-market transactions, in the last 12 months. Executive Departure • Aug 20
Independent Director William Groves has left the company On the 10th of August, William Groves' tenure as Independent Director ended. As of June 2021, William still personally held 27.19k shares (US$602k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 2.25 years. Upcoming Dividend • Aug 12
Upcoming dividend of US$0.24 per share Eligible shareholders must have bought the stock before 19 August 2021. Payment date: 31 August 2021. Trailing yield: 4.2%. Within top quartile of American dividend payers (3.5%). Higher than average of industry peers (2.3%). Reported Earnings • Jul 31
Second quarter 2021 earnings released: US$0.041 loss per share (vs US$0.54 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: US$13.3m (up 3.2% from 2Q 2020). Net loss: US$223.0k (down 108% from profit in 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Announcement • Jun 28
CB Financial Services, Inc.(NasdaqGM:CBFV) dropped from Russell 2000 Defensive Index CB Financial Services, Inc.(NasdaqGM:CBFV) dropped from Russell 2000 Defensive Index