Zacks Investment Research lowered shares of CB Financial Services (NASDAQ:CBFV) from a hold rating to a sell rating in a research report released on Wednesday morning.
According to Zacks, “CB Financial Services, Inc. is the bank holding company for Community Bank, a chartered commercial bank. The Bank’s services include personal banking and business banking. It offers checking, loan accounts, individual retirement accounts, wealth management, certificates of deposit, recorder check, business checking accounts, business loans, cash management and re-order check. The Bank offers other services, including merchant services, financial and wealth management, wire transfers, credit card, ATM, and online banking services. It serves business owners, non-profit groups, government agencies, school administrators, and individual personal account holders in Pennsylvania. CB Financial Services, Inc. is based in Carmichaels, Pennsylvania. “
Separately, Keefe, Bruyette & Woods reiterated a hold rating and set a $33.00 price objective on shares of CB Financial Services in a research report on Friday, December 22nd.
CB Financial Services (NASDAQ:CBFV) last released its quarterly earnings data on Friday, October 27th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.09. CB Financial Services had a net margin of 19.02% and a return on equity of 8.32%. sell-side analysts expect that CB Financial Services will post 1.83 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. Kennedy Capital Management Inc. raised its position in shares of CB Financial Services by 151.8% during the second quarter. Kennedy Capital Management Inc. now owns 64,383 shares of the bank’s stock valued at $1,671,000 after buying an additional 38,810 shares during the last quarter. Vanguard Group Inc. raised its position in shares of CB Financial Services by 1.6% during the second quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock valued at $1,645,000 after buying an additional 1,021 shares during the last quarter. Banc Funds Co. LLC raised its position in shares of CB Financial Services by 66.3% during the second quarter. Banc Funds Co. LLC now owns 60,536 shares of the bank’s stock valued at $1,571,000 after buying an additional 24,135 shares during the last quarter. Janney Capital Management LLC grew its holdings in shares of CB Financial Services by 33.5% in the third quarter. Janney Capital Management LLC now owns 21,933 shares of the bank’s stock valued at $637,000 after purchasing an additional 5,500 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of CB Financial Services by 36.9% in the second quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,132 shares in the last quarter. Hedge funds and other institutional investors own 21.30% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3144790/cb-financial-services-cbfv-rating-lowered-to-sell-at-zacks-investment-research.html.
CB Financial Services Company Profile
CB Financial Services, Inc is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CB Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CB Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.