DA Davidson Boosts CB Financial Services (NASDAQ:CBFV) Price Target to $27.00

CB Financial Services (NASDAQ:CBFV) had its price target upped by DA Davidson from $25.00 to $27.00 in a research note released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other research firms also recently issued reports on CBFV. StockNews.com started coverage on CB Financial Services in a research report on Wednesday, October 23rd. They set a “hold” rating on the stock. 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 0.2 %

Shares of CB Financial Services stock opened at $28.41 on Tuesday. The stock has a market capitalization of $146.08 million, a P/E ratio of 6.46 and a beta of 0.57. CB Financial Services has a 52-week low of $20.75 and a 52-week high of $29.50. 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 stock’s 50-day simple moving average is $27.63 and its 200 day simple moving average is $24.54.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings results on Friday, October 25th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company had revenue of $21.01 million for the quarter, compared to analyst estimates of $12.60 million. CB Financial Services had a net margin of 24.64% and a return on equity of 8.61%. As a group, research analysts anticipate that CB Financial Services will post 2.19 EPS for the current year.

CB Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.52%. CB Financial Services’s dividend payout ratio (DPR) is currently 22.73%.

Institutional Investors Weigh In On CB Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC bought a new position in CB Financial Services in the 2nd quarter worth about $393,000. Empowered Funds LLC grew its holdings in shares of CB Financial Services by 7.9% during the first quarter. Empowered Funds LLC now owns 28,804 shares of the bank’s stock worth $623,000 after purchasing an additional 2,100 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of CB Financial Services by 115.4% in the second 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 last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of CB Financial Services by 2.3% in 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 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 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.