Keefe, Bruyette & Woods Upgrades CB Financial Services (NASDAQ:CBFV) to “Outperform”

CB Financial Services (NASDAQ:CBFV) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a $39.00 price target on the bank’s stock, up from their previous price target of $31.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 20.33% from the stock’s current price.

Separately, Wall Street Zen upgraded shares of CB Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, April 30th.

CB Financial Services Stock Down 0.2%

Shares of CBFV stock opened at $32.41 on Thursday. The stock has a market cap of $162.70 million, a P/E ratio of 15.07 and a beta of 0.29. CB Financial Services has a 52 week low of $23.40 and a 52 week high of $33.72. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.23. The company’s fifty day simple moving average is $28.71 and its two-hundred day simple moving average is $28.69.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.74 EPS for the quarter, topping the consensus estimate of $0.40 by $0.34. The business had revenue of $13.47 million for the quarter, compared to analysts’ expectations of $12.83 million. CB Financial Services had a net margin of 14.43% and a return on equity of 7.80%. Analysts predict that CB Financial Services will post 1.82 EPS for the current fiscal year.

Insider Buying and Selling at CB Financial Services

In other CB Financial Services news, Director John Swiatek bought 1,200 shares of CB Financial Services stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average cost of $28.80 per share, for a total transaction of $34,560.00. Following the acquisition, the director directly owned 7,534 shares in the company, valued at approximately $216,979.20. This represents a 18.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 9.70% of the stock is currently owned by company insiders.

Institutional Trading of CB Financial Services

A number of large investors have recently made changes to their positions in CBFV. Dimensional Fund Advisors LP increased its holdings in shares of CB Financial Services by 5.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 17,822 shares of the bank’s stock worth $509,000 after buying an additional 967 shares during the last quarter. M3F Inc. bought a new stake in shares of CB Financial Services in the 4th quarter worth about $916,000. 683 Capital Management LLC bought a new stake in shares of CB Financial Services in the 4th quarter worth about $344,000. Ameriprise Financial Inc. bought a new position in CB Financial Services during the 4th quarter valued at about $323,000. Finally, Bank of America Corp DE grew its holdings in CB Financial Services by 1,093.4% during the 4th quarter. Bank of America Corp DE now owns 3,807 shares of the bank’s stock valued at $109,000 after purchasing an additional 3,488 shares during the last quarter. 33.06% of the stock is currently owned by institutional investors.

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.