CB Financial Services (NASDAQ:CBFV) Rating Lowered to “Strong Sell” at Zacks Research

CB Financial Services (NASDAQ:CBFV) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently commented on CBFV. Keefe, Bruyette & Woods dropped their price objective on shares of CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. DA Davidson began coverage on shares of CB Financial Services in a research note on Wednesday, February 25th. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research note on Friday, March 27th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, CB Financial Services presently has a consensus rating of “Hold” and an average price target of $41.00.

CB Financial Services Price Performance

Shares of NASDAQ:CBFV opened at $36.23 on Monday. The company has a market cap of $183.69 million, a price-to-earnings ratio of 39.81 and a beta of 0.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $35.11 and a 200 day simple moving average of $34.54. CB Financial Services has a one year low of $27.11 and a one year high of $37.75.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.11). The company 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 9.49%. Research analysts predict that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

Insider Activity at CB Financial Services

In other CB Financial Services news, insider Stephen Cobain sold 1,792 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $34.58, for a total value of $61,967.36. Following the completion of the transaction, the insider directly owned 4,313 shares in the company, valued at approximately $149,143.54. This represents a 29.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Charles R. Guthrie sold 1,913 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $37.35, for a total transaction of $71,450.55. Following the completion of the transaction, the insider owned 16,796 shares of the company’s stock, valued at approximately $627,330.60. This trade represents a 10.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. acquired a new position in CB Financial Services in the 4th quarter valued at approximately $33,000. BNP Paribas Financial Markets increased its position in CB Financial Services by 89.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after acquiring an additional 635 shares during the period. JPMorgan Chase & Co. increased its position in shares of CB Financial Services by 902.9% during the second quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock worth $70,000 after buying an additional 2,212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CB Financial Services during the second quarter worth $73,000. Finally, Raymond James Financial Inc. bought a new position in CB Financial Services during the second quarter worth $99,000. 33.06% of the stock is currently owned by institutional investors and hedge funds.

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.