DA Davidson Issues Positive Forecast for CB Financial Services (NASDAQ:CBFV) Stock Price

CB Financial Services (NASDAQ:CBFV - Get Free Report) had its price objective lifted by analysts at DA Davidson from $30.00 to $32.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. DA Davidson's price target would suggest a potential downside of 2.77% from the company's previous close.

A number of other equities analysts have also commented on CBFV. Wall Street Zen raised shares of CB Financial Services from a "sell" rating to a "hold" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods raised shares of CB Financial Services from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $31.00 to $39.00 in a research note on Thursday.

CB Financial Services Stock Performance

CBFV stock traded up $0.50 during mid-day trading on Thursday, hitting $32.91. The company had a trading volume of 26,631 shares, compared to its average volume of 19,351. The stock's fifty day moving average price is $28.71 and its two-hundred day moving average price is $28.70. CB Financial Services has a 12 month low of $23.40 and a 12 month high of $33.98. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $165.31 million, a PE ratio of 15.31 and a beta of 0.29.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.34. The business had revenue of $13.47 million for the quarter, compared to analyst estimates of $12.83 million. CB Financial Services had a net margin of 14.43% and a return on equity of 7.80%. On average, analysts forecast that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CB Financial Services news, Director John Swiatek bought 1,200 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average cost of $28.80 per share, for a total transaction of $34,560.00. Following the completion of the transaction, the director owned 7,534 shares of the company's stock, valued at $216,979.20. This represents a 18.95% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.70% of the company's stock.

Institutional Investors Weigh In On CB Financial Services

A number of hedge funds have recently bought and sold shares of CBFV. Bank of America Corp DE increased its stake in CB Financial Services by 1,093.4% in the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after buying an additional 3,488 shares during the period. Acadian Asset Management LLC increased its stake in CB Financial Services by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock worth $115,000 after buying an additional 966 shares during the period. ORG Partners LLC purchased a new position in CB Financial Services in the 1st quarter worth about $211,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in CB Financial Services by 11.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock worth $241,000 after buying an additional 892 shares during the period. Finally, Fiduciary Trust Co bought a new stake in shares of CB Financial Services in the 4th quarter valued at about $266,000. Hedge funds and other 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.