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

CB Financial Services (NASDAQ:CBFV)‘s stock had its “buy” rating reissued by research analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They presently have a $44.00 target price on the bank’s stock. DA Davidson‘s price target points to a potential upside of 8.94% from the stock’s current price.

A number of other research analysts also recently weighed in on CBFV. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CB Financial Services in a research report on Monday, September 21st. Keefe, Bruyette & Woods boosted their price target on shares of CB Financial Services from $40.00 to $41.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, CB Financial Services has an average rating of “Moderate Buy” and an average target price of $42.50.

CB Financial Services Trading Up 3.2%

NASDAQ CBFV traded up $1.24 on Tuesday, reaching $40.39. The company had a trading volume of 5,556 shares, compared to its average volume of 5,180. The stock’s 50 day moving average is $37.41 and its 200-day moving average is $36.11. The stock has a market cap of $205.26 million, a price-to-earnings ratio of 29.92 and a beta of 0.29. 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 has a 52 week low of $31.72 and a 52 week high of $40.39.

CB Financial Services (NASDAQ:CBFV) last posted its 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 return on equity of 10.08% and a net margin of 8.52%. The company had revenue of $16.02 million during the quarter, compared to analyst estimates of $16.25 million. Equities analysts predict that CB Financial Services will post 3.21 earnings per share for the current year.

Insider Transactions at CB Financial Services

In other news, Director John Swiatek sold 1,000 shares of CB Financial Services stock in a transaction that occurred 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 transaction, the director directly owned 12,644 shares in the company, valued at approximately $468,586.64. The trade was a 7.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Stephen Cobain sold 1,500 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $37.10, for a total transaction of $55,650.00. Following the completion of the transaction, the insider directly owned 4,313 shares in the company, valued at $160,012.30. The trade was a 25.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.20% of the company’s stock.

Institutional Trading of CB Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of CB Financial Services during the 2nd quarter worth approximately $10,625,000. M3F Inc. grew its position in CB Financial Services by 4.5% during the first quarter. M3F Inc. now owns 171,439 shares of the bank’s stock worth $5,860,000 after buying an additional 7,425 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in CB Financial Services during the second quarter worth approximately $5,843,000. Empowered Funds LLC bought a new position in CB Financial Services during the 2nd quarter worth $1,358,000. Finally, De Lisle Partners LLP bought a new position in CB Financial Services during the 2nd quarter worth $1,268,000. Institutional investors and hedge funds own 33.06% of the company’s stock.

Key Headlines Impacting CB Financial Services

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

• Positive Sentiment: Third-quarter earnings beat expectations. CB Financial Services reported earnings of $0.91 per share, above consensus estimates ranging from $0.81 to $0.83 and up from $0.74 a year earlier. The earnings outperformance is the clearest near-term catalyst for CBFV. CB Financial Services Q3 Earnings Top Estimates
• Positive Sentiment: DA Davidson reaffirmed its Buy rating and set a $44 price target. The target implies additional upside from the recently quoted share price, signaling that the analyst sees room for further appreciation after the earnings report. DA Davidson Reaffirms Buy Rating
• Positive Sentiment: Quarterly dividend declared. The bank will pay $0.28 per share, or $1.12 annualized, to shareholders of record November 13, supporting CBFV’s appeal to income-focused investors. The ex-dividend date is November 13. CB Financial Services Dividend and Earnings Report
• Neutral Sentiment: The available update does not provide the charge-off amount or comparison with prior periods, so investors should review the details for evidence of changing loan losses and credit risk. CB Financial Services Reports Net Charge-Offs
• Negative Sentiment: Revenue slightly missed forecasts. Quarterly revenue was $16.02 million versus the $16.25 million consensus estimate, partially offsetting the positive EPS surprise. CB Financial Services Earnings Data

About CB Financial Services

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.