CB Financial Services (NASDAQ:CBFV) Given "Buy" Rating at DA Davidson

Key Points

• DA Davidson reaffirmed a “Buy” rating on CB Financial Services and set a $44 price target, implying approximately 9.7% upside. Analysts overall rate the stock “Moderate Buy,” with an average target of $42.50.
• CB Financial Services shares rose 2.5% to $40.11, near their 12-month high of $40.36. The bank reported quarterly EPS of $0.91, exceeding the $0.81 consensus estimate, although revenue of $16.02 million fell slightly short of expectations.
• Institutional investors own 33.06% of the company, with BlackRock and other firms recently establishing or increasing positions, while two company insiders sold shares in August.

CB Financial Services (NASDAQ:CBFV - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $44.00 price target on the bank's stock. DA Davidson's price target points to a potential upside of 9.70% from the company's current price.

Several other research analysts have also weighed in on CBFV. Keefe, Bruyette & Woods upped their price target on CB Financial Services from $40.00 to $41.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Weiss Ratings restated a "hold (c)" rating on shares of CB Financial Services in a research report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $42.50.

CB Financial Services Trading Up 2.5%

CB Financial Services stock traded up $0.96 during midday trading on Tuesday, reaching $40.11. The stock had a trading volume of 841 shares, compared to its average volume of 5,157. CB Financial Services has a twelve month low of $31.72 and a twelve month high of $40.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $203.84 million, a price-to-earnings ratio of 29.71 and a beta of 0.29. The firm's fifty day simple moving average is $37.41 and its two-hundred day simple moving average is $36.11.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its earnings results on Monday, October 26th. The bank reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.81 by $0.10. CB Financial Services had a return on equity of 10.08% and a net margin of 8.52%. The company had revenue of $16.02 million during the quarter, compared to analyst estimates of $16.25 million. Equities analysts anticipate that CB Financial Services will post 3.21 EPS for the current fiscal year.

Insider Activity at CB Financial Services

In related news, insider Stephen Cobain sold 1,500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $37.10, for a total value of $55,650.00. Following the transaction, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. This represents a 25.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Swiatek sold 1,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $37.06, for a total transaction of $37,060.00. Following the transaction, the director directly owned 12,644 shares in the company, valued at approximately $468,586.64. The trade was a 7.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 10.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in CB Financial Services in the second quarter worth $10,625,000. M3F Inc. lifted its position in shares of CB Financial Services by 4.5% in the first quarter. M3F Inc. now owns 171,439 shares of the bank's stock worth $5,860,000 after buying an additional 7,425 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of CB Financial Services in the second quarter worth about $5,843,000. Empowered Funds LLC bought a new stake in shares of CB Financial Services during the 2nd quarter worth about $1,358,000. Finally, De Lisle Partners LLP bought a new stake in shares of CB Financial Services during the 2nd quarter worth about $1,268,000. Institutional investors own 33.06% of the company's stock.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.