CB Financial Services (NASDAQ:CBFV) Cut to Hold at Zacks Research

CB Financial Services (NASDAQ:CBFV) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

CBFV has been the subject 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. Keefe, Bruyette & Woods upped their target price on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.00.

CB Financial Services Stock Down 3.7%

Shares of NASDAQ:CBFV opened at $35.35 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.23. The firm has a market cap of $177.10 million, a price-to-earnings ratio of 73.65 and a beta of 0.29. The stock’s 50-day moving average price is $34.35 and its two-hundred day moving average price is $32.40. CB Financial Services has a 12-month low of $26.01 and a 12-month high of $37.45.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.08. CB Financial Services had a net margin of 3.37% and a return on equity of 8.42%. The company had revenue of $2.42 million during the quarter, compared to the consensus estimate of $13.96 million. On average, research analysts forecast that CB Financial Services will post 1.82 EPS for the current year.

CB Financial Services declared that its board has approved a share repurchase program on Thursday, September 4th that permits the company to buyback $5.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at CB Financial Services

In other news, EVP Bruce A. Sharp bought 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was bought at an average price of $32.80 per share, for a total transaction of $32,800.00. Following the transaction, the executive vice president owned 1,000 shares in the company, valued at $32,800. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock worth $109,000 after purchasing an additional 3,488 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of CB Financial Services by 108.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after buying an additional 11,704 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of CB Financial Services by 2.5% in the 1st quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock valued at $967,000 after buying an additional 828 shares during the period. Jane Street Group LLC bought a new stake in shares of CB Financial Services during the 1st quarter valued at about $537,000. Finally, Acadian Asset Management LLC lifted its holdings in CB Financial Services by 30.3% in the first quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock worth $115,000 after acquiring an additional 966 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.