Zacks Investment Research cut shares of CB Financial Services, Inc. (NASDAQ:CBFV) from a buy rating to a hold rating in a research report sent to investors on Monday.

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 price target on shares of CB Financial Services in a research note on Thursday, July 27th.

Shares of CB Financial Services (CBFV) opened at 29.25 on Monday. The company has a 50-day moving average of $27.65 and a 200 day moving average of $27.33. CB Financial Services has a one year low of $22.20 and a one year high of $29.40. The stock has a market cap of $119.57 million, a PE ratio of 16.91 and a beta of 0.34.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings results on Friday, July 28th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $9.27 million. On average, analysts predict that CB Financial Services will post $1.71 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Friday, September 8th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, September 7th. CB Financial Services’s dividend payout ratio (DPR) is currently 50.87%.

Several hedge funds have recently added to or reduced their stakes in CBFV. Janney Montgomery Scott LLC boosted its holdings in shares of CB Financial Services by 34.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 148,106 shares of the bank’s stock valued at $3,843,000 after acquiring an additional 38,303 shares during the last quarter. First National Trust Co. boosted its holdings 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 acquiring an additional 1,865 shares during the last quarter. LSV Asset Management boosted its holdings in shares of CB Financial Services by 36.9% in the 2nd quarter. LSV Asset Management now owns 4,200 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,132 shares during the last quarter. Kennedy Capital Management Inc. boosted its holdings 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 acquiring an additional 38,810 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings 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 acquiring an additional 1,021 shares during the last quarter. 19.95% of the stock is currently owned by institutional investors and hedge funds.

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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