CB Financial Services, Inc. (CBFV) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CB Financial Services, Inc. (NASDAQ:CBFV) from a buy rating to a hold rating in a research report report published on Thursday morning.

According to Zacks, “CB Financial Services, Inc. is the bank holding company for Community Bank, a chartered commercial bank. The Bank’s services include personal banking and business banking. It offers checking, loan accounts, individual retirement accounts, wealth management, certificates of deposit, recorder check, business checking accounts, business loans, cash management and re-order check. The Bank offers other services, including merchant services, financial and wealth management, wire transfers, credit card, ATM, and online banking services. It serves business owners, non-profit groups, government agencies, school administrators, and individual personal account holders in Pennsylvania. CB Financial Services, Inc. is based in Carmichaels, Pennsylvania. “

Separately, Keefe, Bruyette & Woods restated a hold rating and set a $29.00 target price on shares of CB Financial Services in a research report on Thursday, July 27th.

CB Financial Services (NASDAQ:CBFV) opened at 27.55 on Thursday. The firm has a market capitalization of $112.62 million, a PE ratio of 15.92 and a beta of 0.34. The firm has a 50 day moving average of $27.54 and a 200 day moving average of $27.23. CB Financial Services has a one year low of $22.20 and a one year high of $29.40.

CB Financial Services (NASDAQ:CBFV) last posted its earnings results on Friday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.02. The company had revenue of $9.10 million during the quarter, compared to analyst estimates of $9.27 million. CB Financial Services had a return on equity of 7.85% and a net margin of 18.04%. Equities analysts forecast that CB Financial Services will post $1.71 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders of record on Friday, September 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $0.88 annualized dividend and a dividend yield of 3.19%. CB Financial Services’s payout ratio is currently 50.87%.

Several institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in shares of CB Financial Services by 34.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 148,106 shares of the bank’s stock worth $3,843,000 after buying an additional 38,303 shares during the period. Kennedy Capital Management Inc. grew its position in shares of CB Financial Services by 151.8% in the 2nd quarter. Kennedy Capital Management Inc. now owns 64,383 shares of the bank’s stock valued at $1,671,000 after purchasing an additional 38,810 shares during the period. Vanguard Group Inc. grew its position in shares of CB Financial Services by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock valued at $1,645,000 after purchasing an additional 1,021 shares during the period. Banc Funds Co. LLC grew its position in shares of CB Financial Services by 66.3% in the 2nd quarter. Banc Funds Co. LLC now owns 60,536 shares of the bank’s stock valued at $1,571,000 after purchasing an additional 24,135 shares during the period. Finally, First National Trust Co. grew its position in shares of CB Financial Services by 13.7% in the 2nd quarter. First National Trust Co. now owns 15,515 shares of the bank’s stock valued at $403,000 after purchasing an additional 1,865 shares during the period. Institutional investors own 19.95% of the company’s stock.

About CB Financial Services

CB Financial Services, Inc is the bank holding company for Community Bank (the Bank). The Company operates in community banking segment. The Bank offers residential and commercial real estate loans, commercial and industrial loans, and consumer loans, as well as a range of deposit products for individuals and businesses in its market area.

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