CB Financial Services completes 5% stock repurchase program

WASHINGTON, Pa. - CB Financial Services, Inc. (NASDAQ:CBFV), the holding company for Community Bank, announced Wednesday it has completed its 5% common stock repurchase program that began on July 26, 2024. The company, currently valued at $139.9 million, trades below its InvestingPro Fair Value with a price-to-book ratio of 0.94.

The company purchased a total of 257,145 shares of its common stock at an average price of $28.70 per share, according to a press release statement. The repurchase program was finalized on June 13.

CB Financial Services operates as the holding company for Community Bank, which maintains branches throughout southwestern Pennsylvania and West Virginia. The Pennsylvania-chartered commercial bank provides retail and commercial lending services along with various deposit products.

The stock repurchase program represents part of the company’s capital management strategy, though the company did not specify the purpose behind the share buyback initiative in its announcement.

CB Financial Services trades on the Nasdaq stock exchange under the ticker symbol CBFV.

In other recent news, CB Financial Services announced the results of its annual stockholders’ meeting. Key resolutions included the election of directors, the ratification of Forvis Mazars, LLP as the company’s independent accounting firm, and the approval of executive compensation. Meanwhile, DA Davidson maintained a Neutral rating for CB Financial Services, setting a price target of $30. The firm noted a miss on pre-provision net revenue due to weaker net interest income and fees, although operating expenses improved. Additionally, the company experienced a 2% decline in loans and a 1% drop in deposits, despite a positive expansion in net interest margin. DA Davidson highlighted a provision release and a share buyback program, which repurchased 1.5% of outstanding shares. Looking forward, the firm anticipates improved loan growth in 2026 and better operating leverage after 2025, although projected returns remain below peer averages.

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