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

StockNews.com started coverage on shares of CB Financial Services (NASDAQ:CBFV) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $25.00 target price (up from $24.00) on shares of CB Financial Services in a report on Monday, July 29th.

CB Financial Services Trading Up 2.9 %

Shares of NASDAQ:CBFV opened at $28.68 on Tuesday. The firm has a market cap of $147.47 million, a price-to-earnings ratio of 6.52 and a beta of 0.57. CB Financial Services has a 12 month low of $20.72 and a 12 month high of $29.50. The company’s fifty day simple moving average is $26.93 and its 200 day simple moving average is $24.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%. The firm had revenue of $19.63 million during the quarter, compared to the consensus estimate of $12.60 million. As a group, research analysts forecast that CB Financial Services will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted 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 worth $46,000 after acquiring an additional 1,119 shares during the period. Commonwealth Equity Services LLC acquired a new stake in CB Financial Services during the 2nd quarter worth approximately $393,000. Finally, Empowered Funds LLC boosted its stake in CB Financial Services by 7.9% in the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock valued at $623,000 after purchasing an additional 2,100 shares during the period. 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.