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

Key Points

• CB Financial Services (NASDAQ:CBFV) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a positive shift in analyst sentiment.
• Additionally, Keefe, Bruyette & Woods raised the stock's price target from $31.00 to $39.00, reflecting a bullish outlook on the company's performance.
• The company reported a quarterly earnings per share (EPS) of $0.74, surpassing analysts' expectations by $0.34, along with a revenue of $13.47 million for the quarter.

Wall Street Zen upgraded shares of CB Financial Services (NASDAQ:CBFV - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Other analysts have also issued reports about the stock. DA Davidson raised their price target on shares of CB Financial Services from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upgraded shares of CB Financial Services from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $31.00 to $39.00 in a report on Thursday, July 24th.

CB Financial Services Price Performance

Shares of CB Financial Services stock traded up $0.31 on Friday, hitting $33.22. The company had a trading volume of 31,306 shares, compared to its average volume of 18,502. The business has a 50-day simple moving average of $28.85 and a 200-day simple moving average of $28.78. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $166.76 million, a PE ratio of 15.45 and a beta of 0.29. CB Financial Services has a 52 week low of $23.40 and a 52 week high of $33.98.

CB Financial Services (NASDAQ:CBFV - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.74 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $13.47 million during the quarter, compared to analyst estimates of $12.83 million. Research analysts expect that CB Financial Services will post 1.82 EPS for the current fiscal year.

CB Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, August 15th. This is a positive change from CB Financial Services's previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 3.13%. CB Financial Services's payout ratio is 46.51%.

Insider Activity

In other news, Director John Swiatek sold 2,500 shares of CB Financial Services stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $29.50, for a total value of $73,750.00. Following the completion of the sale, the director owned 11,494 shares in the company, valued at $339,073. The trade was a 17.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.40% of the company's stock.

Institutional Trading of CB Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of 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 last quarter. Acadian Asset Management LLC lifted its stake in CB Financial Services by 30.3% in the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank's stock worth $115,000 after acquiring an additional 966 shares during the period. ORG Partners LLC purchased a new position in CB Financial Services during the first quarter valued at $211,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of CB Financial Services by 11.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 8,467 shares of the bank's stock valued at $241,000 after acquiring an additional 892 shares in the last quarter. Finally, Fiduciary Trust Co purchased a new position in shares of CB Financial Services during the fourth quarter valued at approximately $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.