Zacks Investment Research upgraded shares of CB Financial Services, Inc. (NASDAQ:CBFV) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $31.00 target price on the bank’s stock.
According to Zacks, “CB Financial Services, Inc. is the bank holding company for Community Bank, a chartered commercial bank. The Bank’s services include personal banking and business banking. It offers checking, loan accounts, individual retirement accounts, wealth management, certificates of deposit, recorder check, business checking accounts, business loans, cash management and re-order check. The Bank offers other services, including merchant services, financial and wealth management, wire transfers, credit card, ATM, and online banking services. It serves business owners, non-profit groups, government agencies, school administrators, and individual personal account holders in Pennsylvania. CB Financial Services, Inc. is based in Carmichaels, Pennsylvania. “
Separately, Keefe, Bruyette & Woods reiterated a hold rating and set a $29.00 price target on shares of CB Financial Services in a report on Thursday, July 27th.
Shares of CB Financial Services (NASDAQ:CBFV) traded up 0.36% during mid-day trading on Friday, hitting $27.50. 7,868 shares of the stock were exchanged. The stock has a market cap of $112.42 million, a price-to-earnings ratio of 15.90 and a beta of 0.34. CB Financial Services has a 12 month low of $22.20 and a 12 month high of $29.40. The company has a 50-day moving average price of $27.62 and a 200-day moving average price of $27.29.
CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings results on Friday, July 28th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $9.27 million. CB Financial Services had a return on equity of 7.85% and a net margin of 18.04%. Equities analysts expect that CB Financial Services will post $1.71 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 8th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, September 7th. CB Financial Services’s dividend payout ratio (DPR) is 50.87%.
Institutional investors have recently made changes to their positions in the stock. LSV Asset Management boosted its holdings in CB Financial Services by 36.9% during the 2nd quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,132 shares during the period. First National Trust Co. boosted its holdings in CB Financial Services by 13.7% during the 2nd quarter. First National Trust Co. now owns 15,515 shares of the bank’s stock valued at $403,000 after acquiring an additional 1,865 shares during the period. Banc Funds Co. LLC boosted its holdings in CB Financial Services by 66.3% during the 2nd quarter. Banc Funds Co. LLC now owns 60,536 shares of the bank’s stock valued at $1,571,000 after acquiring an additional 24,135 shares during the period. Vanguard Group Inc. boosted its holdings in CB Financial Services by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock valued at $1,645,000 after acquiring an additional 1,021 shares during the period. Finally, Kennedy Capital Management Inc. boosted its holdings in CB Financial Services by 151.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 64,383 shares of the bank’s stock valued at $1,671,000 after acquiring an additional 38,810 shares during the period. Institutional investors own 19.95% of the company’s stock.
About CB Financial Services
CB Financial Services, Inc is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area.
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