CB Financial Services (NASDAQ:CBFV) Earns Buy Rating from Analysts at DA Davidson

Analysts at DA Davidson assumed coverage on shares of CB Financial Services (NASDAQ:CBFV) in a report released on Wednesday. The brokerage set a “buy” rating and a $43.00 price target on the bank’s stock. DA Davidson’s price target suggests a potential upside of 25.77% from the company’s previous close.

CBFV has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their price objective on shares of CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, January 29th. Zacks Research cut shares of CB Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

CB Financial Services Price Performance

CB Financial Services stock opened at $34.19 on Wednesday. The firm has a market capitalization of $171.29 million, a P/E ratio of 37.57 and a beta of 0.29. CB Financial Services has a one year low of $26.01 and a one year high of $37.75. 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 business has a fifty day moving average price of $35.59 and a 200-day moving average price of $34.11.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). The company had revenue of $14.79 million for the quarter, compared to analysts’ expectations of $14.90 million. CB Financial Services had a return on equity of 9.61% and a net margin of 6.09%. As a group, equities research analysts forecast that CB Financial Services will post 1.82 EPS for the current year.

Insider Activity

In other news, Vice Chairman Charles R. Guthrie sold 1,913 shares of CB Financial Services stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $37.35, for a total value of $71,450.55. Following the transaction, the insider owned 16,796 shares in the company, valued at approximately $627,330.60. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of CB Financial Services by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 106,009 shares of the bank’s stock valued at $3,696,000 after purchasing an additional 386 shares during the period. Bridgeway Capital Management LLC grew its holdings in CB Financial Services by 0.8% in the 2nd quarter. Bridgeway Capital Management LLC now owns 65,537 shares of the bank’s stock worth $1,868,000 after acquiring an additional 537 shares during the last quarter. Citadel Advisors LLC boosted its holdings in shares of CB Financial Services by 8.0% during the third quarter. Citadel Advisors LLC now owns 8,576 shares of the bank’s stock worth $285,000 after purchasing an additional 632 shares during the period. BNP Paribas Financial Markets raised its position in CB Financial Services by 89.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after purchasing an additional 635 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of CB Financial Services by 5.1% during the fourth quarter. Barclays PLC now owns 14,577 shares of the bank’s stock valued at $508,000 after buying an additional 701 shares during the period. 33.06% of the stock is currently owned by institutional investors.

About CB Financial Services

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.