CB Financial Services (NASDAQ:CBFV) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of CB Financial Services (NASDAQ:CBFV) from a hold rating to a strong sell rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of CB Financial Services in a research note on Friday, March 27th. Keefe, Bruyette & Woods decreased their target price on CB Financial Services from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, January 29th. Finally, DA Davidson initiated coverage on CB Financial Services in a research note on Wednesday, February 25th. They issued a “buy” rating and a $43.00 target price for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $41.00.

CB Financial Services Stock Down 2.2%

NASDAQ:CBFV opened at $35.42 on Monday. CB Financial Services has a 1 year low of $27.11 and a 1 year high of $37.75. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22. The stock has a market cap of $179.58 million, a price-to-earnings ratio of 38.92 and a beta of 0.27. The stock has a 50-day moving average price of $35.07 and a two-hundred day moving average price of $34.54.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Tuesday, January 27th. The bank reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.11). CB Financial Services had a net margin of 6.09% and a return on equity of 9.49%. The business had revenue of $14.79 million during the quarter, compared to analyst estimates of $14.90 million. As a group, equities analysts expect that CB Financial Services will post 1.82 earnings per share for the current year.

CB Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, February 13th. This is a boost from CB Financial Services’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 3.2%. CB Financial Services’s dividend payout ratio is currently 123.08%.

Insider Activity

In related news, Vice Chairman Charles R. Guthrie sold 1,913 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $37.35, for a total transaction of $71,450.55. Following the sale, the insider owned 16,796 shares in the company, valued at approximately $627,330.60. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Cobain sold 1,792 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $34.58, for a total value of $61,967.36. Following the sale, the insider owned 4,313 shares in the company, valued at $149,143.54. The trade was a 29.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.70% of the company’s stock.

Institutional Trading of CB Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hazlett Burt & Watson Inc. bought a new stake in CB Financial Services during the fourth quarter worth about $33,000. BNP Paribas Financial Markets raised its stake in CB Financial Services by 89.7% in the third quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock valued at $45,000 after buying an additional 635 shares during the period. JPMorgan Chase & Co. raised its stake in CB Financial Services by 902.9% in the second quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock valued at $70,000 after buying an additional 2,212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in CB Financial Services in the second quarter valued at approximately $73,000. Finally, Raymond James Financial Inc. bought a new stake in CB Financial Services in the second quarter valued at approximately $99,000. Institutional investors own 33.06% of the company’s stock.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.