CB Financial Services (CBFV) Lifted to Hold at Zacks Investment Research

CB Financial Services (NASDAQ:CBFV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Several other analysts have also commented on CBFV. ValuEngine lowered shares of CB Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. TheStreet lowered shares of CB Financial Services from a “b” rating to a “c+” rating in a research report on Wednesday, October 24th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. CB Financial Services presently has a consensus rating of “Hold” and an average price target of $34.67.

CBFV stock traded down $0.50 during midday trading on Wednesday, hitting $25.80. 3,480 shares of the stock traded hands, compared to its average volume of 5,891. The firm has a market cap of $141.58 million, a PE ratio of 15.45, a P/E/G ratio of 1.72 and a beta of 0.45. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. CB Financial Services has a 1-year low of $25.50 and a 1-year high of $36.95.

In other news, Director David F. Pollock purchased 1,100 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were bought at an average price of $27.85 per share, for a total transaction of $30,635.00. Following the completion of the transaction, the director now owns 6,691 shares in the company, valued at $186,344.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have purchased 2,895 shares of company stock worth $78,737. 10.60% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC purchased a new position in CB Financial Services during the second quarter valued at $266,000. Northern Trust Corp purchased a new position in CB Financial Services during the second quarter valued at $1,443,000. BlackRock Inc. lifted its holdings in CB Financial Services by 14,285.0% during the second quarter. BlackRock Inc. now owns 210,165 shares of the bank’s stock valued at $7,231,000 after purchasing an additional 208,704 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in CB Financial Services during the second quarter valued at $307,000. Finally, Acadian Asset Management LLC lifted its holdings in CB Financial Services by 169.2% during the second quarter. Acadian Asset Management LLC now owns 4,032 shares of the bank’s stock valued at $139,000 after purchasing an additional 2,534 shares in the last quarter. Institutional investors own 29.94% 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. The company's deposit products include demand deposits, NOW accounts, money market accounts, savings accounts, and time deposits.

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