StockNews.com Initiates Coverage on CB Financial Services (NASDAQ:CBFV)

StockNews.com started coverage on shares of CB Financial Services (NASDAQ:CBFV) in a research note published on Sunday. The firm issued a hold rating on the bank’s stock.

Several other research analysts have also issued reports on CBFV. Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 price target (up previously from $24.00) on shares of CB Financial Services in a report on Monday, July 29th. DA Davidson raised their price target on shares of CB Financial Services from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

CB Financial Services Stock Up 0.3 %

Shares of NASDAQ CBFV opened at $30.00 on Friday. The company has a 50 day simple moving average of $28.50 and a 200 day simple moving average of $25.45. The firm has a market cap of $153.60 million, a PE ratio of 6.74 and a beta of 0.56. CB Financial Services has a 1 year low of $20.75 and a 1 year high of $30.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.87.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $21.01 million during the quarter, compared to analyst estimates of $12.60 million. CB Financial Services had a net margin of 24.51% and a return on equity of 8.27%. On average, research analysts forecast that CB Financial Services will post 2.18 EPS for the current year.

CB Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 3.33%. CB Financial Services’s dividend payout ratio is currently 22.47%.

Institutional Trading of CB Financial Services

Several hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC bought a new stake in CB Financial Services during the 2nd quarter valued at $393,000. Janney Montgomery Scott LLC increased its stake in CB Financial Services by 2.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock valued at $10,204,000 after purchasing an additional 8,143 shares in the last quarter. Empowered Funds LLC increased its stake in CB Financial Services by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 32,572 shares of the bank’s stock valued at $911,000 after purchasing an additional 1,608 shares in the last quarter. Acadian Asset Management LLC increased its stake in CB Financial Services by 115.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Barclays PLC increased its stake in CB Financial Services by 12.7% during the 3rd quarter. Barclays PLC now owns 8,373 shares of the bank’s stock valued at $234,000 after purchasing an additional 943 shares in the last quarter. Institutional investors own 33.06% of the company’s stock.

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.