CB Financial Services (NASDAQ:CBFV) Stock Rating Lowered by Zacks Research

CB Financial Services (NASDAQ:CBFV) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently issued reports on CBFV. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research report on Monday. Keefe, Bruyette & Woods boosted their price objective on CB Financial Services from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

CB Financial Services Price Performance

Shares of NASDAQ:CBFV opened at $35.35 on Monday. CB Financial Services has a 12 month low of $26.01 and a 12 month high of $37.45. The firm has a market capitalization of $177.10 million, a P/E ratio of 73.65 and a beta of 0.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.88 and a quick ratio of 0.88. The company’s fifty day moving average price is $34.35 and its 200 day moving average price is $32.40.

CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.08. The company had revenue of $2.42 million during the quarter, compared to the consensus estimate of $13.96 million. CB Financial Services had a net margin of 3.37% and a return on equity of 8.42%. As a group, sell-side analysts predict that CB Financial Services will post 1.82 earnings per share for the current fiscal year.

CB Financial Services announced that its board has authorized a share repurchase program on Thursday, September 4th that authorizes the company to buyback $5.00 million in shares. This buyback authorization authorizes the bank to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at CB Financial Services

In related news, EVP Bruce A. Sharp bought 1,000 shares of the stock in a transaction on Tuesday, November 18th. The shares were bought at an average cost of $32.80 per share, for a total transaction of $32,800.00. Following the purchase, the executive vice president owned 1,000 shares of the company’s stock, valued at $32,800. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On CB Financial Services

Several hedge funds have recently modified their holdings of CBFV. Police & Firemen s Retirement System of New Jersey acquired a new position in CB Financial Services in the 2nd quarter valued at $30,000. BNP Paribas Financial Markets lifted its stake in shares of CB Financial Services by 89.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock worth $45,000 after acquiring an additional 635 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of CB Financial Services by 902.9% in the second quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock valued at $70,000 after acquiring an additional 2,212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of CB Financial Services during the second quarter worth about $73,000. Finally, Raymond James Financial Inc. acquired a new position in shares of CB Financial Services during the second quarter worth about $99,000. 33.06% of the stock is owned by institutional investors and hedge funds.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.