DA Davidson Reaffirms Buy Rating for CB Financial Services (NASDAQ:CBFV)

CB Financial Services (NASDAQ:CBFV)‘s stock had its “buy” rating reaffirmed by equities researchers at DA Davidson in a report issued on Tuesday, Benzinga reports. They currently have a $44.00 price target on the bank’s stock. DA Davidson‘s price target would suggest a potential upside of 11.97% from the stock’s current price.

CBFV has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a report on Monday, September 21st. Keefe, Bruyette & Woods raised their price objective on shares of CB Financial Services from $40.00 to $41.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $42.50.

CB Financial Services Trading Up 0.4%

Shares of NASDAQ:CBFV traded up $0.15 on Tuesday, hitting $39.30. The company had a trading volume of 5,989 shares, compared to its average volume of 5,180. The firm’s 50-day simple moving average is $37.51 and its two-hundred day simple moving average is $36.17. CB Financial Services has a 1 year low of $31.72 and a 1 year high of $40.39.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Monday, October 26th. The bank reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. The firm had revenue of $16.02 million for the quarter, compared to the consensus estimate of $16.25 million. Equities analysts predict that CB Financial Services will post 3.21 EPS for the current year.

Insider Activity at CB Financial Services

In other CB Financial Services news, Director John Swiatek sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $37.06, for a total value of $37,060.00. Following the sale, the director owned 12,644 shares in the company, valued at approximately $468,586.64. This represents a 7.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen Cobain sold 1,500 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.10, for a total transaction of $55,650.00. Following the completion of the sale, the insider directly owned 4,313 shares of the company’s stock, valued at approximately $160,012.30. The trade was a 25.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in shares of CB Financial Services during the 2nd quarter worth $1,358,000. Bank of America Corp DE purchased a new position in shares of CB Financial Services during the 2nd quarter worth $212,000. The Manufacturers Life Insurance Company acquired a new stake in shares of CB Financial Services during the 2nd quarter worth about $5,843,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CB Financial Services during the 2nd quarter worth about $351,000. Finally, De Lisle Partners LLP acquired a new stake in shares of CB Financial Services during the 2nd quarter worth about $1,268,000. Hedge funds and other institutional investors own 33.06% of the company’s stock.

About CB Financial Services

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.