Zacks Investment Research Lowers CB Financial Services (CBFV) to Hold

CB Financial Services (NASDAQ:CBFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

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. “

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Several other analysts also recently issued reports on CBFV. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of CB Financial Services in a research note on Friday, December 22nd. DA Davidson upped their price target on shares of CB Financial Services to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, February 13th. They noted that the move was a valuation call.

Shares of NASDAQ:CBFV opened at $31.29 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.93 and a current ratio of 0.93. CB Financial Services has a 12-month low of $25.10 and a 12-month high of $32.65. The firm has a market cap of $132.74, a price-to-earnings ratio of 19.40, a PEG ratio of 1.58 and a beta of 0.36.

CB Financial Services (NASDAQ:CBFV) last announced its earnings results on Monday, February 12th. The bank reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.17). CB Financial Services had a net margin of 17.26% and a return on equity of 7.43%. The firm had revenue of $9.52 million for the quarter, compared to analyst estimates of $9.63 million. sell-side analysts forecast that CB Financial Services will post 2.05 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gendell Jeffrey L increased its stake in shares of CB Financial Services by 13.8% in the fourth quarter. Gendell Jeffrey L now owns 47,125 shares of the bank’s stock worth $1,414,000 after acquiring an additional 5,717 shares during the last quarter. Kennedy Capital Management Inc. increased its stake in shares of CB Financial Services by 10.5% in the fourth quarter. Kennedy Capital Management Inc. now owns 100,718 shares of the bank’s stock worth $3,022,000 after acquiring an additional 9,574 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CB Financial Services by 1.6% in the second quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock worth $1,645,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of CB Financial Services by 653.4% in the fourth quarter. Wells Fargo & Company MN now owns 5,658 shares of the bank’s stock worth $169,000 after acquiring an additional 4,907 shares during the last quarter. 22.58% of the stock is currently owned by institutional investors and hedge funds.

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CB Financial Services Company Profile

CB Financial Services, Inc operates as the bank holding company for Community Bank, a state chartered commercial bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania. The company's deposit products include demand deposits, NOW accounts, money market accounts, savings accounts, and time deposits.

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