CB Financial Services (NASDAQ:CBFV) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded CB Financial Services to Hold. Other analysts’ ratings leave the stock with a Moderate Buy consensus and an average price target of $42.50.
• The bank reported quarterly EPS of $0.91, beating the $0.81 consensus estimate, while revenue of $16.02 million fell short of the $16.25 million forecast.
• Company insiders sold 4,610 shares worth about $177,933 over the past 90 days; insiders retain 10.2% of the company’s stock.

CB Financial Services (NASDAQ:CBFV - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also commented on the company. DA Davidson reaffirmed a "buy" rating and set a $44.00 price target on shares of CB Financial Services in a research report on Tuesday, October 27th. Keefe, Bruyette & Woods lifted their target price on shares of CB Financial Services from $40.00 to $41.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of CB Financial Services in a research report on Monday, September 21st. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $42.50.

CB Financial Services Price Performance

CBFV stock opened at $40.70 on Friday. The stock has a market cap of $206.76 million, a price-to-earnings ratio of 12.69 and a beta of 0.28. CB Financial Services has a fifty-two week low of $32.00 and a fifty-two week high of $41.31. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $37.96 and a 200 day moving average price of $36.39.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The bank reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. CB Financial Services had a net margin of 21.00% and a return on equity of 10.56%. The business had revenue of $16.02 million during the quarter, compared to the consensus estimate of $16.25 million. Equities research analysts anticipate that CB Financial Services will post 3.30 earnings per share for the current fiscal year.

Insider Activity at CB Financial Services

In other CB Financial Services news, COO Jennifer L. George sold 2,110 shares of the business's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $40.39, for a total transaction of $85,222.90. Following the sale, the chief operating officer directly owned 13,140 shares in the company, valued at approximately $530,724.60. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Cobain sold 1,500 shares of the business's stock in a transaction 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 sale, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. The trade was a 25.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,610 shares of company stock worth $177,933 over the last 90 days. Company insiders own 10.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG purchased a new position in CB Financial Services during the 2nd quarter valued at about $173,000. Bank of America Corp DE purchased a new stake in shares of CB Financial Services in the second quarter valued at about $212,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CB Financial Services in the second quarter valued at approximately $351,000. HBK Sorce Advisory LLC acquired a new stake in shares of CB Financial Services in the second quarter valued at approximately $393,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of CB Financial Services during the 2nd quarter worth approximately $407,000. Institutional investors and hedge funds own 33.06% of the company's stock.

About CB Financial Services

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.

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