CB Financial Services (NASDAQ:CBFV) Receives New Coverage from Analysts at StockNews.com

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

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

CB Financial Services Price Performance

Shares of NASDAQ:CBFV opened at $27.86 on Tuesday. CB Financial Services has a fifty-two week low of $20.72 and a fifty-two week high of $29.50. The company’s 50-day moving average is $26.84 and its 200 day moving average is $24.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $143.26 million, a P/E ratio of 6.33 and a beta of 0.57.

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

CB Financial Services Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 3.59%. CB Financial Services’s dividend payout ratio is currently 22.73%.

Hedge Funds Weigh In On CB Financial Services

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its stake in CB Financial Services by 115.4% in the 2nd quarter. Acadian Asset Management LLC now owns 2,089 shares of the bank’s stock worth $46,000 after purchasing an additional 1,119 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of CB Financial Services in the second quarter worth about $393,000. Finally, Empowered Funds LLC boosted its position in shares of CB Financial Services by 7.9% in the first quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock valued at $623,000 after acquiring an additional 2,100 shares during the period. 33.06% of the stock is currently owned by hedge funds and other institutional investors.

About CB Financial Services

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.