DA Davidson Reaffirms “Buy” Rating for CB Financial Services (NASDAQ:CBFV)

CB Financial Services (NASDAQ:CBFV)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research note issued on Tuesday, Benzinga reports. They presently have a $44.00 price target on the bank’s stock. DA Davidson‘s price target would indicate a potential upside of 8.94% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research note on Monday, September 21st. Keefe, Bruyette & Woods increased their price target on CB Financial Services from $40.00 to $41.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, CB Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

CB Financial Services Stock Up 3.2%

CBFV opened at $40.39 on Tuesday. The firm’s fifty day simple moving average is $37.51 and its 200 day simple moving average is $36.17. CB Financial Services has a 12 month low of $31.72 and a 12 month high of $40.39.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly 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 firm had revenue of $16.02 million for the quarter, compared to the consensus estimate of $16.25 million. On average, research analysts predict that CB Financial Services will post 3.21 earnings per share for the current year.

Insiders Place Their Bets

In other CB Financial Services news, insider Stephen Cobain sold 1,500 shares of CB Financial Services stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $37.10, for a total transaction of $55,650.00. Following the completion of the transaction, the insider owned 4,313 shares in the company, valued at approximately $160,012.30. The trade was a 25.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Swiatek sold 1,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.06, for a total transaction of $37,060.00. Following the completion of the sale, the director owned 12,644 shares of the company’s stock, valued at approximately $468,586.64. The trade was a 7.33% decrease in their position. The SEC filing for this sale provides additional information. 10.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC bought a new position in shares of CB Financial Services in the second quarter worth $1,358,000. Bank of America Corp DE bought a new position in CB Financial Services in the 2nd quarter worth about $212,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CB Financial Services in the 2nd quarter valued at about $5,843,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CB Financial Services in the 2nd quarter valued at about $351,000. Finally, De Lisle Partners LLP bought a new stake in shares of CB Financial Services during the 2nd quarter valued at about $1,268,000. Hedge funds and other 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.