CB Financial Services (NASDAQ:CBFV) PT Raised to $27.00 at DA Davidson

CB Financial Services (NASDAQ:CBFV) had its target price increased by equities researchers at DA Davidson from $25.00 to $27.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. DA Davidson’s target price would suggest a potential downside of 5.59% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. StockNews.com initiated coverage on CB Financial Services in a research report on Wednesday, October 23rd. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price objective (up previously from $24.00) on shares of CB Financial Services in a report on Monday, July 29th.

CB Financial Services Trading Up 0.4 %

CBFV traded up $0.12 during mid-day trading on Tuesday, hitting $28.60. 1,696 shares of the stock were exchanged, compared to its average volume of 3,899. The firm’s fifty day moving average is $27.56 and its two-hundred day moving average is $24.49. CB Financial Services has a 1-year low of $20.75 and a 1-year high of $29.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap of $147.06 million, a PE ratio of 6.50 and a beta of 0.57.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%. The firm had revenue of $21.01 million for the quarter, compared to analyst estimates of $12.60 million. Equities analysts forecast that CB Financial Services will post 2.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in CB Financial Services by 115.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock worth $46,000 after buying an additional 1,119 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in CB Financial Services during the 2nd quarter worth approximately $393,000. Finally, Empowered Funds LLC grew its stake in CB Financial Services by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after buying an additional 2,100 shares during the last quarter. Hedge funds and other 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.