Overview

* CB Financial Services ( CBFV ) Q3 adjusted EPS beats analyst expectations

* Adjusted net income for Q3 exceeds analyst estimates

* Company reports net loss of $5.7 mln due to securities repositioning strategy

Outlook

* Company expects balance sheet repositioning to add $0.40 to annual EPS

* CB Financial Services ( CBFV ) anticipates a 19 basis point increase in net interest margin

* Company plans to complete treasury program deployment by year-end

Result Drivers

* SECURITIES REPOSITIONING - Co sold $129.6 mln of lower-yielding securities, incurring a $9.3 mln after-tax loss, and purchased higher-yielding securities to boost future earnings

* COMMERCIAL LOAN GROWTH - Strong production in commercial real estate and industrial loans drove asset growth, funded by core deposit increases

* DEPOSIT MIX IMPROVEMENT - Co focused on growing lower-cost core deposits and reducing reliance on higher-priced funding, aiding NIM improvement

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $0.74 $0.65 (3

Adjusted Analysts

EPS )

Q3 EPS -$1.07

Q3 Beat $3.92 $3.43

Adjusted mln mln (3

Net Analysts

Income )

Q3 Net -$5.69

Income mln

Q3 Net 3.64%

Interest

Margin

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for CB Financial Services Inc ( CBFV ) is $37.00, about 12.2% above its October 21 closing price of $32.48

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)