CB Financial Services (NASDAQ:CBFV) Now Covered by StockNews.com

Posted by Defense World Staff on Jun 25th, 2023

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

Separately, Keefe, Bruyette & Woods lowered their price target on CB Financial Services from $27.00 to $25.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th.

CB Financial Services Stock Up 3.8 %

CBFV stock opened at $20.34 on Friday. CB Financial Services has a twelve month low of $17.20 and a twelve month high of $24.98. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The stock has a market cap of $103.94 million, a P/E ratio of 8.51 and a beta of 0.53. The business’s 50-day moving average price is $19.92 and its 200-day moving average price is $21.39.

CB Financial Services (NASDAQ:CBFV – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The bank reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. CB Financial Services had a return on equity of 10.73% and a net margin of 20.14%. The firm had revenue of $14.39 million for the quarter. On average, equities research analysts forecast that CB Financial Services will post 2.95 EPS for the current year.

Insider Buying and Selling

In other CB Financial Services news, Director John J. Lacarte purchased 7,700 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were bought at an average cost of $18.80 per share, with a total value of $144,760.00. Following the acquisition, the director now owns 7,700 shares in the company, valued at $144,760. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John J. Lacarte acquired 7,700 shares of CB Financial Services stock in a transaction on Monday, June 5th. The shares were acquired at an average price of $18.80 per share, with a total value of $144,760.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $144,760. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John Haines Montgomery acquired 1,500 shares of CB Financial Services stock in a transaction on Monday, May 8th. The stock was purchased at an average cost of $18.65 per share, for a total transaction of $27,975.00. Following the purchase, the chief executive officer now owns 21,550 shares in the company, valued at $401,907.50. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 9,603 shares of company stock valued at $180,392. Corporate insiders own 10.10% of the company’s stock.

Hedge Funds Weigh In On CB Financial Services

Several large investors have recently modified their holdings of CBFV. American Century Companies Inc. increased its position in shares of CB Financial Services by 28.7% during the 1st quarter. American Century Companies Inc. now owns 15,928 shares of the bank’s stock valued at $375,000 after purchasing an additional 3,552 shares during the last quarter. Vanguard Group Inc. grew its position in CB Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 185,433 shares of the bank’s stock valued at $4,451,000 after acquiring an additional 495 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in CB Financial Services by 1.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 157,095 shares of the bank’s stock valued at $3,700,000 after acquiring an additional 2,742 shares during the last quarter. State Street Corp grew its position in CB Financial Services by 10.2% in the 2nd quarter. State Street Corp now owns 11,641 shares of the bank’s stock valued at $266,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in CB Financial Services in the 3rd quarter valued at $233,000. Institutional investors own 29.67% of the company’s stock.

CB Financial Services Company Profile

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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.