CB Financial Services (NASDAQ:CBFV) Given New $39.00 Price Target at Keefe, Bruyette & Woods

CB Financial Services (NASDAQ:CBFV) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $40.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 11.96% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, December 29th. Zacks Research cut CB Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, CB Financial Services has a consensus rating of “Hold” and a consensus target price of $35.50.

CB Financial Services Stock Down 1.7%

CBFV stock traded down $0.62 during mid-day trading on Thursday, reaching $34.84. The company had a trading volume of 4,773 shares, compared to its average volume of 3,343. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $174.52 million, a price-to-earnings ratio of 73.20 and a beta of 0.32. The firm has a fifty day simple moving average of $35.17 and a 200 day simple moving average of $33.34. CB Financial Services has a fifty-two week low of $26.01 and a fifty-two week high of $37.45.

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

Insider Buying and Selling

In other news, EVP Bruce A. Sharp acquired 1,000 shares of CB Financial Services stock in a transaction on Tuesday, November 18th. The stock was bought at an average price of $32.80 per share, for a total transaction of $32,800.00. Following the completion of the purchase, the executive vice president owned 1,000 shares in the company, valued at $32,800. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CB Financial Services

A number of hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its holdings in shares of CB Financial Services by 1.1% in the second quarter. Janney Montgomery Scott LLC now owns 340,462 shares of the bank’s stock valued at $9,703,000 after buying an additional 3,816 shares during the last quarter. M3F Inc. increased its position in CB Financial Services by 79.8% in the 2nd quarter. M3F Inc. now owns 175,358 shares of the bank’s stock valued at $4,998,000 after acquiring an additional 77,809 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in CB Financial Services during the 2nd quarter worth approximately $30,000. Bank of America Corp DE lifted its position in CB Financial Services by 1,130.8% during the 2nd quarter. Bank of America Corp DE now owns 4,111 shares of the bank’s stock worth $117,000 after acquiring an additional 3,777 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of CB Financial Services in the 2nd quarter valued at approximately $99,000. 33.06% of the stock is currently owned by hedge funds and other 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.