StockNews.com Initiates Coverage on CB Financial Services (NASDAQ:CBFV)

StockNews.com assumed coverage on shares of CB Financial Services (NASDAQ:CBFV) in a research note published on Sunday. The brokerage issued a hold rating on the bank’s stock.

Separately, DA Davidson reiterated a neutral rating and set a $24.00 target price on shares of CB Financial Services in a report on Monday, February 5th.

CB Financial Services Stock Performance

Shares of CB Financial Services stock opened at $21.34 on Friday. The company has a market capitalization of $109.69 million, a PE ratio of 4.88 and a beta of 0.56. CB Financial Services has a 12 month low of $17.20 and a 12 month high of $27.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $21.86 and its 200 day simple moving average is $22.43.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Wednesday, January 31st. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $27.65 million for the quarter, compared to the consensus estimate of $12.90 million. CB Financial Services had a return on equity of 10.26% and a net margin of 26.15%. On average, research analysts predict that CB Financial Services will post 2.17 EPS for the current year.

CB Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Wednesday, February 14th. CB Financial Services’s dividend payout ratio (DPR) is presently 22.88%.

Hedge Funds Weigh In On CB Financial Services

Hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in CB Financial Services by 3.9% during the third quarter. Janney Montgomery Scott LLC now owns 323,381 shares of the bank’s stock worth $6,920,000 after purchasing an additional 12,218 shares during the period. BlackRock Inc. grew its holdings in CB Financial Services by 22.7% during the second quarter. BlackRock Inc. now owns 55,676 shares of the bank’s stock worth $1,152,000 after purchasing an additional 10,292 shares during the period. The Manufacturers Life Insurance Company grew its holdings in CB Financial Services by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 165,914 shares of the bank’s stock worth $3,371,000 after purchasing an additional 1,451 shares during the period. Geode Capital Management LLC grew its holdings in CB Financial Services by 1.6% during the second quarter. Geode Capital Management LLC now owns 41,109 shares of the bank’s stock worth $835,000 after purchasing an additional 665 shares during the period. Finally, Stifel Financial Corp grew its holdings in CB Financial Services by 5.1% during the first quarter. Stifel Financial Corp now owns 15,790 shares of the bank’s stock worth $343,000 after purchasing an additional 763 shares during the period. Institutional investors own 33.06% of the company’s stock.

About CB Financial Services

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.