CB Financial Services (NASDAQ:CBFV) Raised to Outperform at Keefe, Bruyette & Woods

CB Financial Services (NASDAQ:CBFV - Get Free Report) was upgraded by analysts at Keefe, Bruyette & Woods from a "market perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm currently has a $39.00 target price on the bank's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 18.65% from the stock's previous close.

Separately, Wall Street Zen raised shares of CB Financial Services from a "sell" rating to a "hold" rating in a research note on Wednesday, April 30th.

CB Financial Services Stock Up 5.1%

Shares of CBFV stock traded up $1.60 on Thursday, hitting $32.87. The company's stock had a trading volume of 32,344 shares, compared to its average volume of 18,976. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88. CB Financial Services has a fifty-two week low of $23.40 and a fifty-two week high of $33.72. The firm's fifty day moving average price is $28.60 and its 200-day moving average price is $28.63. The stock has a market capitalization of $165.01 million, a price-to-earnings ratio of 15.29 and a beta of 0.29.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.34. CB Financial Services had a net margin of 14.43% and a return on equity of 7.80%. The business had revenue of $13.47 million during the quarter, compared to analyst estimates of $12.83 million. Research analysts anticipate that CB Financial Services will post 1.82 EPS for the current year.

Insiders Place Their Bets

In other CB Financial Services news, Director John Swiatek sold 2,500 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.50, for a total transaction of $73,750.00. Following the completion of the transaction, the director owned 11,494 shares of the company's stock, valued at $339,073. The trade was a 17.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of CB Financial Services by 1,093.4% during the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank's stock worth $109,000 after purchasing an additional 3,488 shares during the period. Acadian Asset Management LLC increased its holdings in shares of CB Financial Services by 30.3% during the 1st quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock worth $115,000 after purchasing an additional 966 shares during the period. ORG Partners LLC bought a new position in shares of CB Financial Services during the 1st quarter worth about $211,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CB Financial Services by 11.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock worth $241,000 after purchasing an additional 892 shares during the period. Finally, Fiduciary Trust Co bought a new position in shares of CB Financial Services during the 4th quarter worth about $266,000. Institutional investors own 33.06% of the company's stock.

CB Financial Services Company Profile

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.

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