CB Financial Services (NASDAQ:CBFV) Stock Rating Lowered by Zacks Research

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

Several other equities research analysts have also commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research note on Monday. Keefe, Bruyette & Woods boosted their target price on CB Financial Services from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $36.00.

CB Financial Services Stock Performance

NASDAQ:CBFV opened at $35.35 on Monday. The firm’s fifty day simple moving average is $34.35 and its 200-day simple moving average is $32.40. 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 stock has a market cap of $177.10 million, a PE ratio of 73.65 and a beta of 0.29. CB Financial Services has a fifty-two week low of $26.01 and a fifty-two week high of $37.45.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 EPS for the quarter, beating the consensus estimate of $0.66 by $0.08. The firm had revenue of $2.42 million during the quarter, compared to analysts’ expectations of $13.96 million. CB Financial Services had a net margin of 3.37% and a return on equity of 8.42%. Analysts expect that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

CB Financial Services announced that its board has initiated a share repurchase plan on Thursday, September 4th that authorizes the company to repurchase $5.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Bruce A. Sharp purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average cost of $32.80 per share, with a total value of $32,800.00. Following the completion of the acquisition, the executive vice president directly owned 1,000 shares in the company, valued at $32,800. The trade was a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.40% of the company’s stock.

Institutional Trading of CB Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBFV. Police & Firemen s Retirement System of New Jersey purchased a new position in CB Financial Services in the 2nd quarter valued at about $30,000. BNP Paribas Financial Markets lifted its stake 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 valued at $45,000 after buying an additional 635 shares during the period. JPMorgan Chase & Co. boosted its position in 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 acquiring an additional 2,212 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in CB Financial Services in the 2nd quarter worth approximately $73,000. Finally, Raymond James Financial Inc. purchased a new stake in CB Financial Services in the 2nd quarter worth approximately $99,000. Hedge funds and other institutional investors 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.