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

CB Financial Services (NASDAQ:CBFV)‘s stock had its “buy” rating restated by equities research analysts at DA Davidson in a report released on Tuesday, Benzinga reports. They presently have a $44.00 target price on the bank’s stock. DA Davidson‘s target price suggests a potential upside of 11.06% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, September 21st. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, CB Financial Services has a consensus rating of “Moderate Buy” and an average price target of $42.50.

CB Financial Services Trading Up 1.2%

CB Financial Services stock traded up $0.47 during midday trading on Tuesday, hitting $39.62. 1,396 shares of the stock were exchanged, compared to its average volume of 5,160. The stock has a market capitalization of $201.35 million, a PE ratio of 29.35 and a beta of 0.29. CB Financial Services has a 52 week low of $31.72 and a 52 week high of $40.36. The company has a fifty day simple moving average of $37.41 and a two-hundred day simple moving average of $36.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.21.

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. CB Financial Services had a net margin of 8.52% and a return on equity of 10.08%. The firm had revenue of $16.02 million for the quarter, compared to analyst estimates of $16.25 million. Equities research analysts anticipate that CB Financial Services will post 3.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Stephen Cobain sold 1,500 shares of the stock in a transaction that occurred on 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 sale, the insider owned 4,313 shares of the company’s stock, valued at approximately $160,012.30. This represents a 25.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Swiatek sold 1,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $37.06, for a total value of $37,060.00. Following the completion of the sale, the director directly owned 12,644 shares of the company’s stock, valued at $468,586.64. The trade was a 7.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.20% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Several institutional investors and hedge funds have recently modified their holdings of CBFV. Deutsche Bank AG acquired a new stake in CB Financial Services during the 2nd quarter worth approximately $173,000. Bank of America Corp DE acquired a new stake in shares of CB Financial Services in the 2nd quarter valued at approximately $212,000. M3F Inc. lifted its holdings in shares of CB Financial Services by 4.5% in the 1st quarter. M3F Inc. now owns 171,439 shares of the bank’s stock valued at $5,860,000 after buying an additional 7,425 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CB Financial Services in the 2nd quarter valued at approximately $351,000. Finally, HBK Sorce Advisory LLC purchased a new position in CB Financial Services in the 2nd quarter valued at approximately $393,000. 33.06% of the stock is currently owned by institutional investors.

More CB Financial Services News

Here are the key news stories impacting CB Financial Services this week:

• Positive Sentiment: CB Financial Services reported third-quarter EPS of $0.91, exceeding the $0.81 consensus estimate and rising from $0.74 a year earlier. The earnings beat supports the stock by indicating improved profitability. Third-Quarter Earnings Results
• Positive Sentiment: DA Davidson reaffirmed its “buy” rating and maintained a $44 price target, implying approximately 10.5% upside from the referenced $39.81 price. DA Davidson Rating
• Positive Sentiment: The bank declared a quarterly dividend of $0.28 per share, or $1.12 annualized, representing an approximately 2.9% yield. Shareholders of record on November 13 will receive payment on November 27.
• Neutral Sentiment: Reported revenue was $16.02 million, modestly below the $16.25 million consensus estimate. The revenue miss partially offsets the stronger EPS performance. CBFV Third-Quarter Earnings
• Neutral Sentiment: Short interest was reported at zero shares, indicating no measurable short-selling pressure or potential short-covering catalyst based on the supplied data.
• Negative Sentiment: CB Financial Services reported net charge-offs for the quarter ended September 30. The release headline provides no amount or trend, but investors will watch the figures for signs of deteriorating loan quality and higher credit costs. Net Charge-Off Report

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.