CB Financial Services (NASDAQ:CBFV) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CB Financial Services (NASDAQ:CBFV) to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on CBFV. DA Davidson reiterated a “buy” rating and set a $44.00 price objective on shares of CB Financial Services in a research note on Tuesday, October 27th. Keefe, Bruyette & Woods raised their target price on shares of CB Financial Services from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CB Financial Services in a report on Monday, September 21st. Two equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

CB Financial Services Price Performance

NASDAQ:CBFV opened at $41.20 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s 50-day simple moving average is $38.03 and its 200 day simple moving average is $36.42. The company has a market cap of $209.30 million, a P/E ratio of 13.04 and a beta of 0.28. CB Financial Services has a 52-week low of $32.00 and a 52-week high of $41.31.

CB Financial Services (NASDAQ:CBFV) last released its earnings results on Monday, October 26th. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $16.02 million for the quarter, compared to analyst estimates of $16.25 million. CB Financial Services had a return on equity of 10.56% and a net margin of 21.00%. As a group, sell-side analysts forecast that CB Financial Services will post 3.30 EPS for the current fiscal year.

CB Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, November 13th. CB Financial Services’s dividend payout ratio (DPR) is 32.84%.

Insider Buying and Selling

In related news, insider Stephen Cobain sold 1,500 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.10, for a total value of $55,650.00. Following the sale, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. This represents a 25.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jennifer L. George sold 2,110 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $40.39, for a total value of $85,222.90. Following the sale, the chief operating officer directly owned 13,140 shares of the company’s stock, valued at $530,724.60. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 4,610 shares of company stock worth $177,933. Company insiders own 10.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of CB Financial Services in the second quarter valued at about $10,625,000. The Manufacturers Life Insurance Company bought a new position in CB Financial Services during the second quarter worth about $5,843,000. Empowered Funds LLC bought a new position in CB Financial Services during the second quarter worth about $1,358,000. De Lisle Partners LLP acquired a new stake in CB Financial Services in the 2nd quarter worth about $1,268,000. Finally, Bank of New York Mellon Corp acquired a new stake in CB Financial Services in the 2nd quarter worth about $407,000. Institutional investors own 33.06% of the company’s stock.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in Carmichaels, Pennsylvania. Its principal subsidiary, Community Bank, provides personal and business banking services to individuals, families, farms, and companies in the communities it serves.

Community Bank offers a range of deposit products, including checking, savings, money market, and time deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate financing, business loans, agricultural loans, and consumer credit.