CB Financial Services (NASDAQ:CBFV) Coverage Initiated by Analysts at DA Davidson

Research analysts at DA Davidson began coverage on shares of CB Financial Services (NASDAQ:CBFV) in a report issued on Wednesday. The firm set a “buy” rating and a $43.00 price target on the bank’s stock. DA Davidson’s target price indicates a potential upside of 25.77% from the stock’s previous close.

A number of other brokerages have also commented on CBFV. Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a research note on Monday, December 29th. Keefe, Bruyette & Woods dropped their price target on CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Finally, Zacks Research lowered CB Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CB Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

CB Financial Services Stock Performance

CBFV opened at $34.19 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $34.11. The firm has a market capitalization of $171.29 million, a PE ratio of 37.57 and a beta of 0.29. CB Financial Services has a 52-week low of $26.01 and a 52-week high of $37.75.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). The company had revenue of $14.79 million for the quarter, compared to the consensus estimate of $14.90 million. CB Financial Services had a return on equity of 9.61% and a net margin of 6.09%. As a group, sell-side analysts expect that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Vice Chairman Charles R. Guthrie sold 1,913 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $37.35, for a total transaction of $71,450.55. Following the transaction, the insider owned 16,796 shares of the company’s stock, valued at $627,330.60. This represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On CB Financial Services

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in shares of CB Financial Services by 1,093.4% in the 4th 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. raised its stake in shares of CB Financial Services by 108.0% in the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock valued at $641,000 after buying an additional 11,704 shares during the period. Empowered Funds LLC raised its stake in shares of CB Financial Services by 2.5% in the first 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 position in shares of CB Financial Services during the 1st quarter worth $537,000. Finally, Acadian Asset Management LLC increased its holdings in CB Financial Services by 30.3% in the 1st 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 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.