ValuEngine Upgrades CB Financial Services (NASDAQ:CBFV) to “Hold”

CB Financial Services (NASDAQ:CBFV) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday, ValuEngine reports.

Separately, Zacks Investment Research raised shares of CB Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd.

NASDAQ CBFV traded up $0.25 during trading on Friday, reaching $24.35. 25,909 shares of the company’s stock traded hands, compared to its average volume of 12,097. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market cap of $132.29 million, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The company has a 50 day simple moving average of $24.35. CB Financial Services has a 12-month low of $22.77 and a 12-month high of $33.00.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Monday, July 29th. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The business had revenue of $13.10 million for the quarter, compared to the consensus estimate of $13.15 million. CB Financial Services had a net margin of 18.31% and a return on equity of 7.72%. As a group, analysts predict that CB Financial Services will post 2.1 earnings per share for the current year.

In other news, Director John J. Lacarte acquired 1,900 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were purchased at an average price of $25.00 per share, with a total value of $47,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph N. Headlee acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $23.60 per share, for a total transaction of $47,200.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 5,325 shares of company stock worth $128,819. Insiders own 7.90% of the company’s stock.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its stake in CB Financial Services by 18.7% in the fourth quarter. First Trust Advisors LP now owns 8,979 shares of the bank’s stock worth $222,000 after purchasing an additional 1,414 shares during the last quarter. BlackRock Inc. lifted its stake in CB Financial Services by 3.5% in the fourth quarter. BlackRock Inc. now owns 222,109 shares of the bank’s stock worth $5,505,000 after purchasing an additional 7,609 shares during the last quarter. Geode Capital Management LLC lifted its stake in CB Financial Services by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 51,018 shares of the bank’s stock worth $1,264,000 after purchasing an additional 1,955 shares during the last quarter. Bank of America Corp DE lifted its stake in CB Financial Services by 158.5% in the fourth quarter. Bank of America Corp DE now owns 6,270 shares of the bank’s stock worth $155,000 after purchasing an additional 3,844 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in CB Financial Services in the first quarter worth $102,000. 27.30% of the stock is currently owned by hedge funds and other institutional investors.

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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