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

StockNews.com began coverage on shares of CB Financial Services (NASDAQ:CBFV) in a report released on Tuesday. The brokerage set a “hold” rating on the bank’s stock.

Separately, DA Davidson boosted their price objective on CB Financial Services from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

CB Financial Services Stock Down 4.1 %

Shares of CBFV opened at $29.61 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. The firm has a market cap of $151.72 million, a P/E ratio of 6.65 and a beta of 0.58. The company’s 50-day moving average price is $29.87 and its 200 day moving average price is $26.60. CB Financial Services has a 12-month low of $20.75 and a 12-month high of $33.72.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings data on Friday, October 25th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $21.01 million during the quarter, compared to analysts’ expectations of $12.60 million. CB Financial Services had a net margin of 24.51% and a return on equity of 8.27%. On average, sell-side analysts forecast that CB Financial Services will post 2.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Mark E. Fox sold 3,538 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $31.50, for a total value of $111,447.00. Following the transaction, the chairman now owns 11,414 shares in the company, valued at approximately $359,541. This represents a 23.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Charles R. Guthrie sold 3,415 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $32.63, for a total value of $111,431.45. Following the sale, the insider now directly owns 15,194 shares in the company, valued at $495,780.22. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,703 shares of company stock worth $247,995 in the last quarter. 9.40% of the stock is owned by company insiders.

Institutional Trading of CB Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC purchased a new position in shares of CB Financial Services in the 2nd quarter valued at $393,000. Wilmington Savings Fund Society FSB purchased a new position in shares of CB Financial Services during the third quarter worth about $941,000. Janney Montgomery Scott LLC increased its position in shares of CB Financial Services by 2.3% during the third quarter. Janney Montgomery Scott LLC now owns 364,939 shares of the bank’s stock worth $10,204,000 after purchasing an additional 8,143 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of CB Financial Services by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 32,572 shares of the bank’s stock valued at $911,000 after purchasing an additional 1,608 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of CB Financial Services by 115.4% in the 2nd 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 during the period. 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.