CB Financial Services (NASDAQ:CBFV) Stock Rating Upgraded by StockNews.com

CB Financial Services (NASDAQ:CBFV) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

CB Financial Services Stock Performance

NASDAQ CBFV opened at $29.15 on Wednesday. The firm has a market cap of $148.72 million, a P/E ratio of 12.20 and a beta of 0.36. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.23. The company’s 50 day moving average is $28.08 and its 200-day moving average is $29.04. CB Financial Services has a 12-month low of $20.75 and a 12-month high of $33.72.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.07. CB Financial Services had a return on equity of 7.45% and a net margin of 15.43%. The firm had revenue of $12.10 million for the quarter, compared to the consensus estimate of $12.69 million. Sell-side analysts predict that CB Financial Services will post 1.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John Swiatek sold 2,500 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $29.02, for a total value of $72,550.00. Following the sale, the director now owns 11,494 shares in the company, valued at approximately $333,555.88. This trade represents a 17.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CBFV. Waldron Private Wealth LLC boosted its position in shares of CB Financial Services by 100.0% during the 4th quarter. Waldron Private Wealth LLC now owns 120,612 shares of the bank’s stock valued at $3,447,000 after acquiring an additional 60,306 shares during the last quarter. Geode Capital Management LLC lifted its position in CB Financial Services by 9.7% during the third quarter. Geode Capital Management LLC now owns 48,357 shares of the bank’s stock valued at $1,352,000 after purchasing an additional 4,295 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in CB Financial Services in the 3rd quarter worth approximately $941,000. Empowered Funds LLC increased its holdings in shares of CB Financial Services by 1.8% in the 4th quarter. Empowered Funds LLC now owns 33,172 shares of the bank’s stock worth $948,000 after buying an additional 600 shares during the last quarter. Finally, M3F Inc. bought a new stake in shares of CB Financial Services during the 4th quarter worth $916,000. 33.06% of the stock is currently owned by hedge funds and other institutional investors.

About CB Financial Services

CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.