Zacks Investment Research cut shares of CB Financial Services, Inc. (NASDAQ:CBFV) from a buy rating to a hold rating in a 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 reissued a hold rating and issued a $29.00 target price on shares of CB Financial Services in a report on Thursday, July 27th.

CB Financial Services (NASDAQ:CBFV) opened at 27.10 on Thursday. The stock has a market cap of $110.78 million, a PE ratio of 15.66 and a beta of 0.34. CB Financial Services has a 1-year low of $22.20 and a 1-year high of $29.40. The firm has a 50-day moving average of $27.43 and a 200-day moving average of $27.20.

CB Financial Services (NASDAQ:CBFV) last announced its quarterly earnings data on Friday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. CB Financial Services had a net margin of 18.04% and a return on equity of 7.85%. The business had revenue of $9.10 million during the quarter, compared to analyst estimates of $9.27 million. Analysts expect that CB Financial Services will post $1.71 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 8th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, September 7th. CB Financial Services’s dividend payout ratio (DPR) is presently 50.87%.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in CB Financial Services by 1.6% during the second quarter. Vanguard Group Inc. now owns 63,052 shares of the bank’s stock worth $1,645,000 after buying an additional 1,021 shares during the period. LSV Asset Management boosted its stake in CB Financial Services by 36.9% during the second quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock worth $109,000 after buying an additional 1,132 shares during the period. First National Trust Co. boosted its stake in CB Financial Services by 13.7% during the second quarter. First National Trust Co. now owns 15,515 shares of the bank’s stock worth $403,000 after buying an additional 1,865 shares during the period. Banc Funds Co. LLC boosted its stake in CB Financial Services by 66.3% during the second quarter. Banc Funds Co. LLC now owns 60,536 shares of the bank’s stock worth $1,571,000 after buying an additional 24,135 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in CB Financial Services by 34.9% during the second 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. 19.95% of the stock is owned by hedge funds and other institutional investors.

CB Financial Services Company Profile

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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