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

CB Financial Services (NASDAQ:CBFV) had its price target raised by DA Davidson from $25.00 to $27.00 in a research report report published on Tuesday morning, Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock. DA Davidson also issued estimates for CB Financial Services’ Q4 2024 earnings at $0.44 EPS and FY2025 earnings at $1.95 EPS.

CBFV has been the subject of several other reports. StockNews.com initiated coverage on shares of CB Financial Services in a report on Wednesday, October 23rd. They set a “hold” rating for the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $25.00 price target (up from $24.00) on shares of CB Financial Services in a report on Monday, July 29th.

CB Financial Services Stock Performance

Shares of CBFV opened at $28.57 on Tuesday. CB Financial Services has a one year low of $20.75 and a one year high of $29.50. The company has a 50-day moving average of $27.82 and a two-hundred day moving average of $24.64. The stock has a market cap of $146.85 million, a price-to-earnings ratio of 6.42 and a beta of 0.57. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings results on Friday, October 25th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business 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 8.39%. On average, equities research analysts expect that CB Financial Services will post 2.19 earnings per share for the current year.

CB Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Friday, November 15th. CB Financial Services’s payout ratio is presently 22.47%.

Hedge Funds Weigh In On CB Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its position 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 acquiring an additional 1,119 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of CB Financial Services in the second quarter valued at approximately $393,000. Empowered Funds LLC raised 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 purchasing an additional 2,100 shares during the period. Finally, Janney Montgomery Scott LLC raised 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 valued at $10,204,000 after purchasing an additional 8,143 shares during the period. Institutional investors 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.