Zacks Investment Research Downgrades CB Financial Services, Inc. (CBFV) to Hold
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 to investors 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 reaffirmed a “hold” rating and set a $29.00 price objective on shares of CB Financial Services in a report on Thursday, July 27th.
Shares of CB Financial Services (CBFV) traded down 0.36% during trading on Thursday, reaching $27.40. 1,933 shares of the company’s stock were exchanged. The company has a 50 day moving average of $27.57 and a 200 day moving average of $27.28. The firm has a market capitalization of $112.01 million, a P/E ratio of 15.84 and a beta of 0.34. CB Financial Services has a 52-week low of $22.20 and a 52-week high of $29.40.
CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings results on Friday, July 28th. The bank reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. CB Financial Services had a net margin of 18.04% and a return on equity of 7.85%. The company had revenue of $9.10 million for the quarter, compared to analyst estimates of $9.27 million. Equities analysts anticipate that CB Financial Services will post $1.71 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of CBFV. Janney Montgomery Scott LLC boosted its holdings in shares of 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 buying an additional 38,303 shares during the period. First National Trust Co. boosted its holdings in shares of 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 buying an additional 1,865 shares during the period. LSV Asset Management boosted its holdings in shares of 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 buying an additional 1,132 shares during the period. Kennedy Capital Management Inc. boosted its holdings in shares of 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 buying an additional 38,810 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 1,021 shares during the period. 19.95% of the stock is owned by institutional investors and hedge funds.
CB Financial Services Company Profile
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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