CB Financial Services, Inc. (NASDAQ:CBFV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $31.00 target price on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.14% from the company’s previous close.

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 reiterated a “hold” rating and set a $29.00 target price on shares of CB Financial Services in a research report on Thursday, July 27th.

Shares of CB Financial Services (CBFV) traded up 0.36% during midday trading on Friday, hitting $27.50. 7,868 shares of the stock were exchanged. CB Financial Services has a 52-week low of $22.20 and a 52-week high of $29.40. The firm’s 50-day moving average is $27.60 and its 200 day moving average is $27.28. The firm has a market cap of $112.42 million, a PE ratio of 15.90 and a beta of 0.34.

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

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Institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its position in CB Financial Services by 34.9% in the second 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 last quarter. Banc Funds Co. LLC lifted its position in CB Financial Services by 66.3% in the second quarter. Banc Funds Co. LLC now owns 60,536 shares of the bank’s stock worth $1,571,000 after buying an additional 24,135 shares during the last quarter. Vanguard Group Inc. lifted its position in CB Financial Services by 1.6% in the second 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 last quarter. Kennedy Capital Management Inc. lifted its position in CB Financial Services by 151.8% in the second 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 last quarter. Finally, LSV Asset Management lifted its position in CB Financial Services by 36.9% in the second 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 last quarter. Institutional investors own 19.95% of the company’s stock.

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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