Zacks Research Upgrades CB Financial Services (NASDAQ:CBFV) to “Hold”

CB Financial Services (NASDAQ:CBFV) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Keefe, Bruyette & Woods cut their price target on CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a report on Friday, March 27th. Finally, DA Davidson began coverage on CB Financial Services in a report on Wednesday, February 25th. They set a “buy” rating and a $43.00 price target for the company. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $41.00.

CB Financial Services Trading Up 0.3%

Shares of CB Financial Services stock opened at $35.14 on Tuesday. The business has a fifty day simple moving average of $34.90 and a two-hundred day simple moving average of $34.91. CB Financial Services has a 1 year low of $27.11 and a 1 year high of $37.75. The company has a market capitalization of $178.23 million, a price-to-earnings ratio of 27.24 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.87 and a quick ratio of 0.87.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. CB Financial Services had a return on equity of 10.16% and a net margin of 8.32%.The business had revenue of $14.82 million during the quarter, compared to the consensus estimate of $15.50 million. Research analysts forecast that CB Financial Services will post 3.12 EPS for the current year.

Insider Buying and Selling at CB Financial Services

In other news, insider Stephen Cobain sold 1,792 shares of CB Financial Services stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $34.58, for a total transaction of $61,967.36. Following the completion of the sale, the insider owned 4,313 shares of the company’s stock, valued at approximately $149,143.54. This trade represents a 29.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Institutional Investors Weigh In On CB Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of CB Financial Services by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 106,009 shares of the bank’s stock worth $3,696,000 after buying an additional 386 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of CB Financial Services by 0.8% during the second quarter. Bridgeway Capital Management LLC now owns 65,537 shares of the bank’s stock worth $1,868,000 after buying an additional 537 shares in the last quarter. Citadel Advisors LLC lifted its holdings in shares of CB Financial Services by 8.0% during the third quarter. Citadel Advisors LLC now owns 8,576 shares of the bank’s stock worth $285,000 after buying an additional 632 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of CB Financial Services by 89.7% during the third quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock worth $45,000 after buying an additional 635 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of CB Financial Services by 5.1% during the fourth quarter. Barclays PLC now owns 14,577 shares of the bank’s stock worth $508,000 after buying an additional 701 shares in the last quarter. Institutional investors and hedge funds own 33.06% of the company’s stock.

About CB Financial Services

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.