StockNews.com Initiates Coverage on CB Financial Services (NASDAQ:CBFV)

StockNews.com started coverage on shares of CB Financial Services (NASDAQ:CBFV) in a research report sent to investors on Tuesday. The brokerage issued a hold rating on the bank’s stock.

Separately, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $25.00 target price (up previously from $24.00) on shares of CB Financial Services in a research note on Monday, July 29th.

CB Financial Services Trading Down 1.3 %

NASDAQ CBFV opened at $28.33 on Tuesday. The stock has a market cap of $145.67 million, a P/E ratio of 6.44 and a beta of 0.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. CB Financial Services has a 12-month low of $20.72 and a 12-month high of $29.50. The company has a fifty day simple moving average of $27.10 and a two-hundred day simple moving average of $24.14.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings data on Wednesday, July 24th. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $19.63 million during the quarter, compared to analysts’ expectations of $12.60 million. CB Financial Services had a return on equity of 8.61% and a net margin of 24.64%. On average, analysts forecast that CB Financial Services will post 2.19 earnings per share for the current year.

CB Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. CB Financial Services’s dividend payout ratio is currently 22.73%.

Institutional Investors Weigh In On CB Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in CB Financial Services by 115.4% during the second quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,119 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in CB Financial Services in the 2nd quarter worth about $393,000. Finally, Empowered Funds LLC increased its stake in CB Financial Services by 7.9% during the 1st quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after buying an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 33.06% of the company’s stock.

CB Financial Services Company Profile

CB Financial Services, Inc operates as the bank holding company for Community Bank that provides various banking products and services for individuals and businesses in southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts, as well as time deposit products.