CB Financial Services, Inc. (NASDAQ:CBFV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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. “

Separately, Keefe, Bruyette & Woods reissued a “hold” rating and set a $29.00 target price on shares of CB Financial Services in a research note on Thursday, July 27th.

CB Financial Services (CBFV) traded up 2.12% during midday trading on Thursday, reaching $27.50. The company had a trading volume of 1,464 shares. The stock has a market capitalization of $112.42 million, a PE ratio of 15.90 and a beta of 0.34. CB Financial Services has a 1-year low of $22.20 and a 1-year high of $29.40. The firm’s 50 day moving average is $27.49 and its 200 day moving average is $27.23.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Friday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. CB Financial Services had a return on equity of 7.85% and a net margin of 18.04%. The business had revenue of $9.10 million during the quarter, compared to analysts’ expectations of $9.27 million. On average, equities analysts anticipate that CB Financial Services will post $1.71 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of CBFV. Janney Montgomery Scott LLC increased its stake in CB Financial Services by 34.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 148,106 shares of the bank’s stock worth $3,843,000 after purchasing an additional 38,303 shares in the last quarter. First National Trust Co. increased its stake in CB Financial Services by 13.7% during the 2nd quarter. First National Trust Co. now owns 15,515 shares of the bank’s stock worth $403,000 after purchasing an additional 1,865 shares in the last quarter. LSV Asset Management increased its stake in CB Financial Services by 36.9% during the 2nd quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock worth $109,000 after purchasing an additional 1,132 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in CB Financial Services by 151.8% during the 2nd quarter. Kennedy Capital Management Inc. now owns 64,383 shares of the bank’s stock worth $1,671,000 after purchasing an additional 38,810 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in CB Financial Services by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock worth $1,645,000 after purchasing an additional 1,021 shares in the last quarter. 19.95% of the stock is owned by institutional investors and hedge funds.

About CB Financial Services

CB Financial Services, Inc is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area.

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