NasdaqGM:CBFV

Stock Analysis Report

Executive Summary

CB Financial Services, Inc. operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses southwestern Pennsylvania, West Virginia, and Ohio.

Snowflake

Fundamentals

Excellent balance sheet with acceptable track record.


Similar Companies

Share Price & News

How has CB Financial Services's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.6%

CBFV

5.8%

US Banks

3.4%

US Market


1 Year Return

-7.2%

CBFV

1.0%

US Banks

5.4%

US Market

Return vs Industry: CBFV underperformed the US Banks industry which returned 1% over the past year.

Return vs Market: CBFV underperformed the US Market which returned 5.4% over the past year.


Shareholder returns

CBFVIndustryMarket
7 Day1.6%5.8%3.4%
30 Day4.9%-0.6%-1.0%
90 Day6.1%3.1%-0.4%
1 Year-3.6%-7.2%3.9%1.0%7.7%5.4%
3 Year26.3%14.3%53.5%42.9%46.2%36.8%
5 Year66.0%38.4%69.8%51.3%65.6%47.5%

Price Volatility Vs. Market

How volatile is CB Financial Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

13.59x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: CBFV ($26.63) is trading above our estimate of fair value ($23.1)

Significantly Undervalued: 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 (13.6x) compared to the Banks industry average (12.6x).

PE vs Market: CBFV is good value based on its PE Ratio (13.6x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: CBFV is poor value based on its PEG Ratio (2x)


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).


Next Steps

Future Growth

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

6.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CBFV's forecast earnings growth (6.7% per year) is above the savings rate (2.7%).

Earnings vs Market: CBFV's earnings (6.7% per year) are forecast to grow slower than the US market (14.3% per year).

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

Revenue vs Market: CBFV's revenue (6.8% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: CBFV's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CBFV's Return on Equity is forecast to be low in 3 years time (8.1%).


Next Steps

Past Performance

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

8.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CBFV's earnings have grown by 8.1% per year over the past 5 years.

Accelerating Growth: CBFV's earnings growth over the past year (84.2%) exceeds its 5-year average (8.1% per year).

Earnings vs Industry: CBFV earnings growth over the past year (84.2%) exceeded the Banks industry 31.8%.


Return on Equity

High ROE: CBFV's Return on Equity (7.3%) is considered low.


Return on Assets

ROA vs Industry: CBFV's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate CBFV's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

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

Inventory Level: CBFV has a low level of unsold assets or inventory.

Debt Coverage by Assets: CBFV's debt is covered by short term assets (assets are 1.083940x debt).


Financial Institutions Analysis

Asset Level: CBFV's level of assets compared to its equity is low.

Allowance for Bad Loans: CBFV has a low allowance for bad loans.

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

Loan Level: CBFV has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CBFV's loans are broadly funded by customer deposits.

Level of Bad Loans: CBFV has an appropriate level of bad loans (1.06%)


Next Steps

Dividend

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

3.60%

Current Dividend Yield


Dividend Yield vs Market

company3.6%marketbottom25%1.5%markettop25%3.8%industryaverage3.0%forecastin3Years3.7%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CBFV's dividend (3.6%) is higher than the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: CBFV's dividend (3.6%) is low compared to the top 25% of dividend payers in the US market (3.77%).

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 5 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (47.5%), CBFV's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CBFV's dividends in 3 years are forecast to be well covered by earnings (47% payout ratio).


Next Steps

Management

What is the CEO of CB Financial Services's salary, the management and board of directors tenure and is there insider trading?

0.9yrs

Average management tenure


CEO

Pat O'Brien (58yo)

1.3yrs

Tenure

US$486,631

Compensation

Mr. Patrick G. O'Brien has been the President and Chief Executive Officer of CB Financial Services, Inc. since May 17, 2017 and June 20, 2018. Mr. O'Brien has been the President of Community Bank since May ...


CEO Compensation Analysis

Compensation vs. Market: Pat has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.

Compensation vs Earnings: Pat's compensation has increased by more than 20% in the past year.


Management Age and Tenure

0.9yrs

Average Tenure

59.5yo

Average Age

Experienced Management: CBFV's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Age and Tenure

5.0yrs

Average Tenure

61.5yo

Average Age

Experienced Board: CBFV's board of directors are considered experienced (5 years average tenure).


Insider Trading

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


Recent Insider Transactions

BuyUS$12,20923 Sep 19
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares465
Max PriceUS$26.29
BuyUS$90120 Sep 19
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares35
Max PriceUS$25.75
BuyUS$2,55018 Sep 19
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares100
Max PriceUS$25.50
BuyUS$47,50001 Aug 19
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,900
Max PriceUS$25.00
BuyUS$23,60020 Jun 19
William Petroplus
EntityIndividual
Shares1,000
Max PriceUS$23.60
BuyUS$47,20029 May 19
Joseph Headlee
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,000
Max PriceUS$23.60
BuyUS$10,51909 May 19
David Pollock
EntityIndividual
Shares425
Max PriceUS$24.75
BuyUS$3,54002 May 19
Charles Guthrie
EntityIndividual
Role
Vice Chairman
Independent Vice Chairman
Shares150
Max PriceUS$23.60
BuyUS$74,97015 Mar 19
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,000
Max PriceUS$25.00
BuyUS$104,52027 Feb 19
Jonathan Bedway
EntityIndividual
Shares4,000
Max PriceUS$26.13
BuyUS$66,22519 Feb 19
Ralph Burchianti
EntityIndividual
Role
Member of the Board of Directors
Executive VP
Shares2,500
Max PriceUS$26.49
BuyUS$2,33305 Feb 19
Roberta Olejasz
EntityIndividual
Shares95
Max PriceUS$24.56
BuyUS$12,26021 Dec 18
William Petroplus
EntityIndividual
Shares500
Max PriceUS$24.52
BuyUS$56,81319 Dec 18
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2,250
Max PriceUS$25.25
BuyUS$18,37511 Dec 18
Karl Baily
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares700
Max PriceUS$26.25
BuyUS$7,71426 Nov 18
Mark Fox
EntityIndividual
Role
Chairman of the Board
Independent Chairman of the Board
Shares295
Max PriceUS$26.15
BuyUS$19,45919 Nov 18
William Petroplus
EntityIndividual
Shares750
Max PriceUS$25.95
BuyUS$27,83509 Nov 18
William Petroplus
EntityIndividual
Shares1,000
Max PriceUS$28.00
BuyUS$30,63507 Nov 18
David Pollock
EntityIndividual
Shares1,100
Max PriceUS$27.85
BuyUS$20,93907 Nov 18
Patrick O'Brien
EntityIndividual
Role
Chief Executive Officer
President
Shares750
Max PriceUS$27.92
BuyUS$34,92702 Nov 18
John LaCarte
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,250
Max PriceUS$28.00

Ownership Breakdown


Management Team

  • Rich Boyer (61yo)

    Senior VP of Insurance Operations & Director

    • Tenure: 5yrs
    • Compensation: US$396.45k
  • Kevin Lemley (64yo)

    Consultant

    • Tenure: 0.3yrs
    • Compensation: US$184.52k
  • Pat O'Brien (58yo)

    President

    • Tenure: 1.3yrs
    • Compensation: US$486.63k
  • Jamie Prah (49yo)

    CFO & Executive VP

    • Tenure: 0.4yrs
  • Deborah Sabocheck

    Corporate Secretary

    • Tenure: 0yrs

Board Members

  • Rich Boyer (61yo)

    Senior VP of Insurance Operations & Director

    • Tenure: 5yrs
    • Compensation: US$396.45k
  • Karl Baily (67yo)

    Independent Director

    • Tenure: 23.8yrs
    • Compensation: US$51.16k
  • John LaCarte (53yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: US$52.96k
  • Pat O'Brien (58yo)

    President

    • Tenure: 1.3yrs
    • Compensation: US$486.63k
  • John Swiatek (62yo)

    Independent Director

    • Tenure: 5yrs
    • Compensation: US$51.16k
  • Ralph Burchianti (63yo)

    Executive VP

    • Tenure: 0.8yrs
    • Compensation: US$308.38k
  • William Groves (77yo)

    Independent Director

    • Tenure: 23.8yrs
    • Compensation: US$61.06k
  • Joseph Headlee (69yo)

    Independent Director

    • Tenure: 17.8yrs
    • Compensation: US$51.16k
  • Randy Guthrie (59yo)

    Independent Vice Chairman

    • Tenure: 0.4yrs
    • Compensation: US$56.26k
  • Mark Fox (60yo)

    Independent Chairman of the Board

    • Tenure: 0.4yrs
    • Compensation: US$65.56k

Company Information

CB Financial Services, Inc.'s company bio, 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
  • Market Cap: US$144.713m
  • Shares outstanding: 5.43m
  • Website: https://www.communitybank.tv

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CBFVNasdaqGM (Nasdaq Global Market)YesCommon SharesUSUSDAug 1995

Biography

CB Financial Services, Inc. operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses southwestern Pennsylvania, West Virgin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 23:48
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.