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CB Financial ServicesNasdaqGM:CBFV Stock Report

Last Price


Market Cap







16 Jan, 2022


Company Financials +
CBFV fundamental analysis
Snowflake Score
Future Growth0/6
Past Performance1/6
Financial Health6/6

CBFV Stock Overview

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.

CB Financial Services Competitors

Howard Bancorp



Citizens & Northern



Peoples Financial Services






Price History & Performance

Summary of all time highs, changes and price drops for CB Financial Services
Historical stock prices
Current Share PriceUS$24.41
52 Week HighUS$25.72
52 Week LowUS$17.76
1 Month Change1.50%
3 Month Change0.78%
1 Year Change23.16%
3 Year Change0.45%
5 Year Change-7.89%
Change since IPO225.47%

Recent News & Updates

Shareholder Returns

CBFVUS BanksUS Market

Return vs Industry: CBFV underperformed the US Banks industry which returned 32.9% over the past year.

Return vs Market: CBFV exceeded the US Market which returned 13.7% over the past year.

Price Volatility

Is CBFV's price volatile compared to industry and market?
CBFV volatility
CBFV Average Weekly Movement1.4%
Banks Industry Average Movement3.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.9%
10% least volatile stocks in US Market2.4%

Stable Share Price: CBFV is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 1% a week.

Volatility Over Time: CBFV's weekly volatility (1%) has been stable over the past year.

About the Company

1901257John Montgomery

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. Its loan products comprise residential real estate loans, such as one- to four-family mortgage loans, home equity installment loans, and home equity lines of credit; commercial real estate loans that are secured primarily by improved properties, such as retail facilities, office buildings, and other non-residential buildings; construction loans to individuals to finance the construction of residential dwellings, as well as for the construction of commercial properties, including hotels, apartment buildings, housing developments, and owner-occupied properties used for businesses; commercial and industrial loans, and lines of credit; consumer loans consisting of indirect auto loans, secured and unsecured loans, and lines of credit; and other loans.

CB Financial Services Fundamentals Summary

How do CB Financial Services's earnings and revenue compare to its market cap?
CBFV fundamental statistics
Market CapUS$129.29m
Earnings (TTM)US$7.68m
Revenue (TTM)US$52.09m


P/E Ratio


P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
CBFV income statement (TTM)
Cost of RevenueUS$0
Gross ProfitUS$52.09m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date


Earnings per share (EPS)1.45
Gross Margin100.00%
Net Profit Margin14.75%
Debt/Equity Ratio37.1%

How did CBFV perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio


Is CB Financial Services undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: CBFV ($24.41) is trading above our estimate of fair value ($17.12)

Significantly Below Fair Value: CBFV is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: CBFV is poor value based on its PE Ratio (16.8x) compared to the US Banks industry average (11.3x).

PE vs Market: CBFV is good value based on its PE Ratio (16.8x) compared to the US market (17.4x).

Price to Earnings Growth Ratio

PEG Ratio: CBFV is poor value based on its PEG Ratio (24x)

Price to Book Ratio

PB vs Industry: CBFV is good value based on its PB Ratio (1x) compared to the US Banks industry average (1.2x).

Future Growth

How is CB Financial Services forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CBFV's forecast earnings growth (0.7% per year) is below the savings rate (2%).

Earnings vs Market: CBFV's earnings (0.7% per year) are forecast to grow slower than the US market (13% per year).

High Growth Earnings: CBFV's earnings are forecast to grow, but not significantly.

Revenue vs Market: CBFV's revenue is expected to decline over the next 3 years (-1.2% per year).

High Growth Revenue: CBFV's revenue is forecast to decline over the next 3 years (-1.2% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CBFV's Return on Equity is forecast to be low in 3 years time (6.7%).

Past Performance

How has CB Financial Services performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CBFV has a large one-off loss of $4.5M impacting its September 30 2021 financial results.

Growing Profit Margin: CBFV became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: CBFV's earnings have declined by 25.2% per year over the past 5 years.

Accelerating Growth: CBFV has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: CBFV has become profitable in the last year, making it difficult to compare its past year earnings growth to the Banks industry (43.7%).

Return on Equity

High ROE: CBFV's Return on Equity (5.9%) is considered low.

Financial Health

How is CB Financial Services's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: CBFV's Assets to Equity ratio (11.3x) is moderate.

Allowance for Bad Loans: CBFV has a sufficient allowance for bad loans (106%).

Low Risk Liabilities: 88% of CBFV's liabilities are made up of primarily low risk sources of funding.

Loan Level: CBFV has an appropriate level of Loans to Assets ratio (67%).

Low Risk Deposits: CBFV's Loans to Deposits ratio (84%) is appropriate.

Level of Bad Loans: CBFV has an appropriate level of bad loans (1.1%).


What is CB Financial Services's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: CBFV's dividend (3.93%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: CBFV's dividend (3.93%) is in the top 25% of dividend payers in the US market (3.44%)

Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CBFV has been paying a dividend for less than 10 years.

Growing Dividend: CBFV's dividend payments have increased, but the company has only paid a dividend for 8 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (67.6%), CBFV's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: CBFV's dividends in 3 years are forecast to be well covered by earnings (48.3% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


John Montgomery (59 yo)





Mr. John H. Montgomery has been President, Chief Executive Officer and Director of CB Financial Services, Inc. and Community Bank since August 31, 2020. He had been Chief Credit Officer and Executive Vice...

CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD1.13M) is above average for companies of similar size in the US market ($USD578.13K).

Compensation vs Earnings: Insufficient data to compare John's compensation with company performance.

Leadership Team

Experienced Management: CBFV's management team is considered experienced (2.7 years average tenure).

Board Members

Experienced Board: CBFV's board of directors are considered experienced (7.3 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: CBFV insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

CB Financial Services, Inc.'s employee growth, exchange listings and data sources

Key Information

  • Name: CB Financial Services, Inc.
  • Ticker: CBFV
  • Exchange: NasdaqGM
  • Founded: 1901
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$129.289m
  • Shares outstanding: 5.30m
  • Website:

Number of Employees


  • CB Financial Services, Inc.
  • 100 North Market Street
  • Carmichaels
  • Pennsylvania
  • 15320
  • United States


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/16 23:05
End of Day Share Price2022/01/14 00:00
Annual Earnings2020/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.