CB Financial Services (CBFV) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of CB Financial Services (NASDAQ:CBFV) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $34.00 target price on the bank’s stock.

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. “

Several other equities research analysts have also recently weighed in on CBFV. Keefe, Bruyette & Woods restated a hold rating and set a $30.00 target price on shares of CB Financial Services in a research note on Wednesday, November 1st. DA Davidson upped their target price on CB Financial Services to $36.00 and gave the stock a buy rating in a research note on Tuesday. They noted that the move was a valuation call.

CB Financial Services (NASDAQ:CBFV) traded up $0.61 during midday trading on Thursday, reaching $30.55. The company’s stock had a trading volume of 3,700 shares, compared to its average volume of 3,639. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.26. CB Financial Services has a 12-month low of $25.10 and a 12-month high of $31.90. The company has a market capitalization of $125.13, a PE ratio of 18.08, a PEG ratio of 1.49 and a beta of 0.36.

CB Financial Services (NASDAQ:CBFV) last released its earnings results on Monday, February 12th. The bank reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.17). CB Financial Services had a return on equity of 7.46% and a net margin of 17.26%. The business had revenue of $9.52 million for the quarter, compared to the consensus estimate of $9.63 million. equities research analysts expect that CB Financial Services will post 2.05 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of CB Financial Services by 653.4% in the 4th quarter. Wells Fargo & Company MN now owns 5,658 shares of the bank’s stock valued at $169,000 after acquiring an additional 4,907 shares during the last quarter. Janney Capital Management LLC lifted its stake in shares of CB Financial Services by 33.5% in the 3rd quarter. Janney Capital Management LLC now owns 21,933 shares of the bank’s stock valued at $637,000 after acquiring an additional 5,500 shares during the last quarter. Gendell Jeffrey L lifted its stake in shares of CB Financial Services by 13.8% in the 4th quarter. Gendell Jeffrey L now owns 47,125 shares of the bank’s stock valued at $1,414,000 after acquiring an additional 5,717 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of CB Financial Services by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock valued at $1,645,000 after acquiring an additional 1,021 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its stake in shares of CB Financial Services by 10.5% in the 4th quarter. Kennedy Capital Management Inc. now owns 100,718 shares of the bank’s stock valued at $3,022,000 after acquiring an additional 9,574 shares during the last quarter. Institutional investors own 21.29% of the company’s stock.

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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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