StockNews.com Initiates Coverage on CB Financial Services (NASDAQ:CBFV)

StockNews.com started coverage on shares of CB Financial Services (NASDAQ:CBFV) in a report issued on Sunday morning. The brokerage issued a hold rating on the bank’s stock.

Several other equities research analysts have also recently commented on CBFV. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $25.00 price target (up from $24.00) on shares of CB Financial Services in a research report on Monday, July 29th. DA Davidson lifted their price objective on shares of CB Financial Services from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

CB Financial Services Price Performance

NASDAQ CBFV opened at $31.56 on Friday. CB Financial Services has a 12 month low of $20.75 and a 12 month high of $31.79. The firm has a market capitalization of $161.59 million, a PE ratio of 7.09 and a beta of 0.56. The company’s 50 day simple moving average is $28.70 and its 200 day simple moving average is $25.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.87.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings results on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. CB Financial Services had a return on equity of 8.27% and a net margin of 24.51%. The firm had revenue of $21.01 million during the quarter, compared to analyst estimates of $12.60 million. As a group, equities research analysts forecast that CB Financial Services will post 2.18 EPS for the current fiscal year.

CB Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, November 15th. CB Financial Services’s dividend payout ratio (DPR) is presently 22.47%.

Hedge Funds Weigh In On CB Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of CBFV. Commonwealth Equity Services LLC acquired a new stake in CB Financial Services during the 2nd quarter worth about $393,000. Janney Montgomery Scott LLC boosted its holdings in shares of CB Financial Services by 2.3% in the third quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock worth $10,204,000 after buying an additional 8,143 shares during the period. Empowered Funds LLC increased its position in shares of CB Financial Services by 5.2% in the third quarter. Empowered Funds LLC now owns 32,572 shares of the bank’s stock worth $911,000 after acquiring an additional 1,608 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of CB Financial Services by 115.4% during the second quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,119 shares during the period. Finally, Barclays PLC lifted its position in shares of CB Financial Services by 12.7% in the 3rd quarter. Barclays PLC now owns 8,373 shares of the bank’s stock valued at $234,000 after acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds 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.