Zacks Research upgraded shares of CB Financial Services (NASDAQ:CBFV – Free Report) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.
A number of other research firms also recently commented on CBFV. DA Davidson began coverage on CB Financial Services in a report on Wednesday, February 25th. They issued a “buy” rating and a $43.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a report on Friday, March 27th. Finally, Keefe, Bruyette & Woods reduced their target price on CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, January 29th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.00.
Get Our Latest Research Report on CBFV
CB Financial Services Stock Performance
CB Financial Services (NASDAQ:CBFV – Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. CB Financial Services had a return on equity of 10.16% and a net margin of 8.32%.The company had revenue of $14.82 million during the quarter, compared to the consensus estimate of $15.50 million. On average, sell-side analysts expect that CB Financial Services will post 3.12 EPS for the current year.
CB Financial Services Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, May 15th. CB Financial Services’s payout ratio is 86.82%.
Insider Activity
In other news, insider Stephen Cobain sold 1,792 shares of CB Financial Services stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $34.58, for a total transaction of $61,967.36. Following the completion of the transaction, the insider owned 4,313 shares of the company’s stock, valued at $149,143.54. The trade was a 29.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 10.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On CB Financial Services
Hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in shares of CB Financial Services by 1,093.4% in the fourth quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock worth $109,000 after acquiring an additional 3,488 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of CB Financial Services by 108.0% in the first quarter. Goldman Sachs Group Inc. now owns 22,538 shares of the bank’s stock worth $641,000 after acquiring an additional 11,704 shares during the last quarter. Empowered Funds LLC raised its stake in CB Financial Services by 2.5% in the 1st quarter. Empowered Funds LLC now owns 34,000 shares of the bank’s stock valued at $967,000 after purchasing an additional 828 shares during the last quarter. Jane Street Group LLC acquired a new position in CB Financial Services in the 1st quarter valued at about $537,000. Finally, Acadian Asset Management LLC raised its stake in CB Financial Services by 30.3% in the 1st quarter. Acadian Asset Management LLC now owns 4,158 shares of the bank’s stock valued at $115,000 after purchasing an additional 966 shares during the last quarter. Hedge funds and other institutional investors own 33.06% of the company’s stock.
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.
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