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

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

Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $25.00 target price (up from $24.00) on shares of CB Financial Services in a research report on Monday, July 29th.

CB Financial Services Stock Performance

Shares of CBFV stock opened at $28.40 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average price of $25.97 and a 200-day moving average price of $23.49. CB Financial Services has a 52 week low of $20.52 and a 52 week high of $29.50. The firm has a market capitalization of $146.03 million, a PE ratio of 6.45 and a beta of 0.57.

CB Financial Services (NASDAQ:CBFV) last announced 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 business had revenue of $19.63 million during 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, equities research analysts expect that CB Financial Services will post 2.21 earnings per share for the current year.

Hedge Funds Weigh In On CB Financial Services

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings 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 buying an additional 1,119 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of CB Financial Services in the second quarter valued at about $393,000. Finally, Empowered Funds LLC boosted its stake 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 worth $623,000 after acquiring an additional 2,100 shares during the period. 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.