CB Financial Services (NASDAQ:CBFV) Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of CB Financial Services (NASDAQ:CBFV) from a sell rating to a hold rating in a research note published on Saturday morning.

Other research analysts have also issued research reports about the company. DA Davidson boosted their price target on CB Financial Services from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upgraded CB Financial Services from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $31.00 to $39.00 in a research report on Thursday, July 24th.

CB Financial Services Trading Up 1.5%

Shares of CBFV stock opened at $32.91 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. CB Financial Services has a 1 year low of $23.40 and a 1 year high of $33.98. The stock has a fifty day moving average of $28.78 and a two-hundred day moving average of $28.74. The firm has a market capitalization of $165.21 million, a PE ratio of 15.31 and a beta of 0.29.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.34. CB Financial Services had a return on equity of 7.80% and a net margin of 14.43%. The company had revenue of $13.47 million during the quarter, compared to analyst estimates of $12.83 million. As a group, research analysts expect that CB Financial Services will post 1.82 EPS for the current year.

CB Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.26 per share. This is a positive change from CB Financial Services’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, August 15th. CB Financial Services’s payout ratio is presently 46.51%.

Insider Transactions at CB Financial Services

In related news, Director John Swiatek sold 2,500 shares of CB Financial Services stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $29.50, for a total transaction of $73,750.00. Following the transaction, the director directly owned 11,494 shares of the company’s stock, valued at $339,073. The trade was a 17.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CBFV. M3F Inc. grew its holdings in CB Financial Services by 204.3% during the first quarter. M3F Inc. now owns 97,549 shares of the bank’s stock worth $2,775,000 after acquiring an additional 65,494 shares during the period. Jane Street Group LLC acquired a new position in CB Financial Services during the first quarter worth about $537,000. 683 Capital Management LLC acquired a new stake in shares of CB Financial Services during the fourth quarter worth $344,000. Goldman Sachs Group Inc. raised its position in shares of CB Financial Services by 108.0% during the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after purchasing an additional 11,704 shares during the period. Finally, Ameriprise Financial Inc. acquired a new stake in shares of CB Financial Services during the fourth quarter worth $323,000. 33.06% of the stock is owned by institutional investors and hedge funds.

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.