CB Financial Services, Inc. (CBFV) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of CB Financial Services, Inc. (NASDAQ:CBFV) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $30.00 target price on the bank’s stock.
According to Zacks, “CB Financial Services, Inc. is the bank holding company for Community Bank, a chartered commercial bank. The Bank’s services include personal banking and business banking. It offers checking, loan accounts, individual retirement accounts, wealth management, certificates of deposit, recorder check, business checking accounts, business loans, cash management and re-order check. The Bank offers other services, including merchant services, financial and wealth management, wire transfers, credit card, ATM, and online banking services. It serves business owners, non-profit groups, government agencies, school administrators, and individual personal account holders in Pennsylvania. CB Financial Services, Inc. is based in Carmichaels, Pennsylvania. “
Separately, Keefe, Bruyette & Woods reissued a hold rating and issued a $29.00 target price on shares of CB Financial Services in a research report on Thursday, July 27th.
Shares of CB Financial Services (NASDAQ CBFV) opened at 27.15 on Tuesday. The company’s 50 day moving average price is $27.42 and its 200-day moving average price is $27.19. The firm has a market cap of $110.99 million, a P/E ratio of 15.69 and a beta of 0.33. CB Financial Services has a 12-month low of $22.13 and a 12-month high of $29.40.
CB Financial Services (NASDAQ:CBFV) last announced its earnings results on Friday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The firm had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $9.27 million. CB Financial Services had a return on equity of 7.85% and a net margin of 18.04%. On average, equities research analysts anticipate that CB Financial Services will post $1.71 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 8th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, September 7th. This represents a $0.88 dividend on an annualized basis and a yield of 3.24%. CB Financial Services’s payout ratio is 50.87%.
Several hedge funds have recently bought and sold shares of CBFV. Janney Montgomery Scott LLC boosted its stake in CB Financial Services by 34.9% in the second quarter. Janney Montgomery Scott LLC now owns 148,106 shares of the bank’s stock valued at $3,843,000 after buying an additional 38,303 shares in the last quarter. First National Trust Co. boosted its stake in CB Financial Services by 13.7% in the second quarter. First National Trust Co. now owns 15,515 shares of the bank’s stock valued at $403,000 after buying an additional 1,865 shares in the last quarter. LSV Asset Management boosted its stake in CB Financial Services by 36.9% in the second quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock valued at $109,000 after buying an additional 1,132 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in CB Financial Services by 151.8% in the second quarter. Kennedy Capital Management Inc. now owns 64,383 shares of the bank’s stock valued at $1,671,000 after buying an additional 38,810 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in CB Financial Services by 1.6% in the second quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock valued at $1,645,000 after buying an additional 1,021 shares in the last quarter. 19.95% of the stock is owned by institutional investors and hedge funds.
About CB Financial Services
CB Financial Services, Inc is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area.
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