CB Financial Services

CBFV • NASDAQ

CB Financial Services is a banks - regional company in the financial services sector on NASDAQ, led by John H. Montgomery, with a market cap of $179.4M. As of Q3 2025, 46% of shares are held by 69 institutional investors, with Janney Montgomery Scott LLC as the largest holder at 6.64%.

President and Chief Executive OfficerJohn H. Montgomery

Market Cap$179.4M

Banks - Regional

Financial Services

Employees162.0

Websitecommunitybank.tv

Country

United States of America

Overview

Overview of institutional ownership in CBFV as of Q3 2025 with a market cap of $165.6M

All Institutions

Institutions: 69
Value Held: $75.7M
Shares Held: 2.3M
Avg Position: $1.1M
Median Position: $258.0K

Hedge Funds

Hedge Funds: 5
Value Held: $8.3M
Shares Held: 250.8K
Avg Position: $1.7M
Median Position: $329.0K

Ownership Breakdown

Institutional (non-HF)

40.68%

$67.3M

Hedge Funds

5.03%

$8.3M

Retail & Other

54.29%

$89.9M

Based on market cap of $165.6M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in CBFV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Janney Montgomery Scott LLC RIA/Wealth	Anthony Matthew Miller CEO	$11.0M 0.03% of portfolio	6.64% 331.0K shares	Q4 2013 Held for 11y 11m	$40.0B
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$8.7M 0.00% of portfolio	5.25% 261.6K shares	Q1 2023 Held for 2y 8m	$317.45B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$8.2M 0.00% of portfolio	4.94% 246.1K shares	Q4 2014 Held for 10y 11m	$6.69T
B BlackRock, Inc. Institution	-	$8.1M 0.00% of portfolio	4.89% 243.6K shares	Q1 2017 Held for 8y 8m	$5.67T
M3F, Inc. Hedge Fund•Long/Short	William Chester Waller Managing Partner	$5.4M 1.54% of portfolio	3.29% 164.0K shares	Q4 2024 Held for 11 months	$352.9M
M MANUFACTURERES LIFE INSURANCE CO Institution	-	$5.4M 0.00% of portfolio	3.24% 161.8K shares	Q2 2021 Held for 4y 5m	$120.17B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$3.5M 0.00% of portfolio	2.12% 105.6K shares	Q1 2017 Held for 8y 8m	$1.57T
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	$2.3M 0.05% of portfolio	1.36% 67.8K shares	Q1 2017 Held for 8y 8m	$4.7B
Waldron, LP RIA/Wealth	John Joseph Waldron CEO	$2.0M 0.08% of portfolio	1.21% 60.3K shares	Q4 2016 Held for 8y 11m	$2.5B
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$2.0M 0.00% of portfolio	1.21% 60.2K shares	Q2 2018 Held for 7y 5m	$75.8B

Net Capital Flow

Institutional buying and selling activity for CBFV in Q3 2025

Traded: +$2.9M
Buyers: 35
Sellers: 21
Total Bought: +$8.5M
Total Sold: −$5.5M
Avg Position: $1.0M

Biggest Buyers

Institution	Net Bought	Current Position
VANGUARD GROUP INC Institution	+$5.0M +150.9K shares	$8.2M 246.1K shares
GOLDMAN SACHS GROUP INC Institution	+$585.8K +17.6K shares	$585.8K 17.6K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$503.4K +15.2K shares	$759.5K 22.9K shares
B BlackRock, Inc. Institution	+$495.8K +14.9K shares	$8.1M 243.6K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	+$350.4K +10.6K shares	$350.4K 10.6K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	+$268.9K +8.1K shares	$268.9K 8.1K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	+$258.0K +7.8K shares	$258.0K 7.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$168.8K +5.1K shares	$2.0M 60.2K shares
STATE STREET CORP Institution	+$161.2K +4.9K shares	$1.6M 47.3K shares
UBS Group AG Institution	+$143.1K +4.3K shares	$248.2K 7.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
ENDEAVOUR CAPITAL ADVISORS INC Private Equity	−$2.0M −59.6K shares	$1.7M 51.8K shares
Fourthstone LLC Hedge Fund•Long/Short	−$820.8K −24.7K shares	$329.0K 9.9K shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	−$734.8K −22.1K shares	$8.7M 261.6K shares
M3F, Inc. Hedge Fund•Long/Short	−$376.7K −11.3K shares	$5.4M 164.0K shares
Janney Montgomery Scott LLC RIA/Wealth	−$314.8K −9.5K shares	$11.0M 331.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$302.0K −10.6K shares	Sold Off 0 shares
ORG Partners LLC RIA/Wealth	−$213.2K −7.4K shares	Sold Off 0 shares
M MANUFACTURERES LIFE INSURANCE CO Institution	−$171.5K −5.2K shares	$5.4M 161.8K shares
MORGAN STANLEY RIA/Wealth	−$163.3K −4.9K shares	$301.0K 9.1K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$99.4K −3.5K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CBFV in Q3 2025

New Positions: 13
New Value: $590.0K
Exited Positions: 4
Exited Value: $614.5K

New Positions

Institution	Position Value
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	$268.9K 8.1K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	$258.0K 7.8K shares
Rockefeller Capital Management L.P. Long Only Manager	$52.3K 1.6K shares
WHITTIER TRUST CO RIA/Wealth	$5.6K 170.0 shares
SRS Capital Advisors, Inc. RIA/Wealth	$2.5K 74.0 shares
R Roble, Belko & Company, Inc Institution	$1.0K 22.0 shares
GAMMA Investing LLC Long Only Manager	$764.0 23.0 shares
FMR LLC Institution	$332.0 10.0 shares
IFP Advisors, Inc RIA/Wealth	$298.0 7.0 shares
E EverSource Wealth Advisors, LLC RIA/Wealth	$100.0 3.0 shares

Exited Positions

Institution	Previous Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$302.0K 10.6K shares
ORG Partners LLC RIA/Wealth	$213.2K 7.4K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$99.4K 3.5K shares
C Covestor Ltd Institution	- - shares

Options Activity

Institutions with the largest Call and Put options positions in CBFV as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with CBFV as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
M3F, Inc. Hedge Fund•Long/Short	William Chester Waller Managing Partner	1.54% $5.4M	3.29% 164.0K shares	Q4 2024 Held for 11 months	$352.9M
ENDEAVOUR CAPITAL ADVISORS INC Private Equity	Aaron Samuel Richmond Managing Partner	0.52% $1.7M	1.04% 51.8K shares	Q2 2019 Held for 6y 5m	$331.5M
S S&T BANK/PA Institution	-	0.34% $1.1M	0.67% 33.6K shares	Q3 2013 Held for 12y 2m	$330.2M
S SALZHAUER MICHAEL Institution	-	0.33% $627.8K	0.38% 18.9K shares	Q4 2016 Held for 8y 11m	$190.4M
D De Lisle Partners LLP Institution	-	0.14% $1.1M	0.68% 34.1K shares	Q1 2024 Held for 1y 8m	$815.6M
Waldron, LP RIA/Wealth	John Joseph Waldron CEO	0.08% $2.0M	1.21% 60.3K shares	Q4 2016 Held for 8y 11m	$2.5B
Fourthstone LLC Hedge Fund•Long/Short	Amy Morris Stone CEO	0.06% $329.0K	0.20% 9.9K shares	Q3 2024 Held for 1y 2m	$557.6M
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.05% $2.3M	1.36% 67.8K shares	Q1 2017 Held for 8y 8m	$4.7B
Janney Montgomery Scott LLC RIA/Wealth	Anthony Matthew Miller CEO	0.03% $11.0M	6.64% 331.0K shares	Q4 2013 Held for 11y 11m	$40.0B
B BRYN MAWR TRUST CO/PA Institution	-	0.03% $1.1M	0.67% 33.6K shares	Q3 2024 Held for 1y 2m	$4.3B

Hedge Fund Spotlight

Discover hedge funds investing in CBFV

M3F, Inc.

Hedge Fund • Long/Short

Portfolio ManagerWilliam Chester Waller

Portfolio Value: $352.9M
Positions: 28
Last Reported: Q3 2025

Sector Allocation

Position in CB Financial Services

Market Value: $5.4M
Shares Held: 164.0K
Portfolio Weight: 1.54%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Willis Lease Finance WLFC	Rental & Leasing Services Industrials	$83.1M	23.54%
2 Ponce Financial Group, Inc. PDLB	Banks - Regional Financial Services	$33.2M	9.40%
3 Air Lease AL	Rental & Leasing Services Industrials	$29.8M	8.44%