CB Financial Services (CBFV) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CB Financial Services (NASDAQ:CBFV) from a hold rating to a sell rating in a report published on Friday morning, Zacks.com reports.

According to Zacks, “CB Financial Services, Inc. is the bank holding company for Community Bank, a chartered commercial bank. The Bank’s services include personal banking and business banking. It offers checking, loan accounts, individual retirement accounts, wealth management, certificates of deposit, recorder check, business checking accounts, business loans, cash management and re-order check. The Bank offers other services, including merchant services, financial and wealth management, wire transfers, credit card, ATM, and online banking services. It serves business owners, non-profit groups, government agencies, school administrators, and individual personal account holders in Pennsylvania. CB Financial Services, Inc. is based in Carmichaels, Pennsylvania. “

A number of other research firms have also recently weighed in on CBFV. TheStreet raised CB Financial Services from a c+ rating to a b- rating in a report on Wednesday, February 27th. ValuEngine cut CB Financial Services from a hold rating to a sell rating in a report on Tuesday, March 12th.

Shares of NASDAQ CBFV traded up $1.17 during trading on Friday, reaching $24.68. The company had a trading volume of 15,960 shares, compared to its average volume of 5,368. CB Financial Services has a twelve month low of $22.77 and a twelve month high of $36.95. The stock has a market cap of $134.09 million, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.10 and a beta of 0.38. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.15.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings results on Thursday, January 31st. The bank reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). CB Financial Services had a return on equity of 6.93% and a net margin of 15.67%. The company had revenue of $12.77 million during the quarter, compared to analyst estimates of $12.55 million. As a group, analysts anticipate that CB Financial Services will post 2.15 EPS for the current year.

In other CB Financial Services news, Director Jonathan Bedway acquired 4,000 shares of the stock in a transaction dated Tuesday, February 26th. The stock was acquired at an average price of $26.13 per share, with a total value of $104,520.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Lacarte acquired 3,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $24.99 per share, with a total value of $74,970.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 7,252 shares of company stock valued at $185,545. Insiders own 7.90% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of CB Financial Services by 3.5% in the fourth quarter. BlackRock Inc. now owns 222,109 shares of the bank’s stock valued at $5,505,000 after purchasing an additional 7,609 shares during the period. Janney Montgomery Scott LLC grew its position in shares of CB Financial Services by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 170,179 shares of the bank’s stock valued at $4,038,000 after purchasing an additional 932 shares during the period. Wesbanco Bank Inc. grew its position in shares of CB Financial Services by 3.3% in the fourth quarter. Wesbanco Bank Inc. now owns 57,705 shares of the bank’s stock valued at $1,430,000 after purchasing an additional 1,825 shares during the period. Geode Capital Management LLC grew its position in shares of CB Financial Services by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 51,018 shares of the bank’s stock valued at $1,264,000 after purchasing an additional 1,955 shares during the period. Finally, Context BH Capital Management LP purchased a new stake in shares of CB Financial Services in the fourth quarter valued at $960,000. 28.07% of the stock is owned by institutional investors and hedge funds.

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 southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts.

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