Keefe, Bruyette & Woods Cuts CB Financial Services (NASDAQ:CBFV) Price Target to $39.00

CB Financial Services (NASDAQ:CBFV) had its price target reduced by Keefe, Bruyette & Woods from $40.00 to $39.00 in a research note published on Thursday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the bank’s stock.

CBFV has been the topic of a number of other research reports. Zacks Research lowered shares of CB Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.50.

CB Financial Services Trading Up 1.7%

Shares of CBFV stock opened at $35.83 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $179.51 million, a P/E ratio of 39.37 and a beta of 0.32. CB Financial Services has a 12-month low of $26.01 and a 12-month high of $37.45. The firm has a 50-day moving average price of $35.26 and a 200 day moving average price of $33.44.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Tuesday, January 27th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). The firm had revenue of $14.79 million during the quarter, compared to the consensus estimate of $14.90 million. CB Financial Services had a net margin of 6.09% and a return on equity of 9.61%. Research analysts forecast that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

CB Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 13th. This is a boost from CB Financial Services’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 3.1%. CB Financial Services’s payout ratio is currently 114.29%.

Insiders Place Their Bets

In other news, EVP Bruce A. Sharp purchased 1,000 shares of CB Financial Services stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $32.80 per share, with a total value of $32,800.00. Following the completion of the transaction, the executive vice president directly owned 1,000 shares in the company, valued at $32,800. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its stake in CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock valued at $109,000 after acquiring an additional 3,488 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of CB Financial Services by 108.0% in the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after buying an additional 11,704 shares during the period. Empowered Funds LLC boosted its holdings in shares of CB Financial Services by 2.5% in the first quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock valued at $967,000 after buying an additional 828 shares during the period. Jane Street Group LLC bought a new stake in shares of CB Financial Services during the first quarter worth $537,000. Finally, Acadian Asset Management LLC raised its holdings in shares of CB Financial Services by 30.3% during the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock worth $115,000 after acquiring an additional 966 shares during the period. 33.06% of the stock is currently owned by institutional investors.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.