CB Financial Services (NASDAQ:CBFV) Price Target Raised to $41.00

CB Financial Services (NASDAQ:CBFV) had its price target increased by Keefe, Bruyette & Woods from $40.00 to $41.00 in a research note released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Several other brokerages have also issued reports on CBFV. Zacks Research raised shares of CB Financial Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. DA Davidson raised their price objective on CB Financial Services from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CB Financial Services in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

CB Financial Services Stock Performance

Shares of NASDAQ:CBFV opened at $37.83 on Monday. The firm’s 50 day simple moving average is $36.89 and its 200 day simple moving average is $35.76. CB Financial Services has a fifty-two week low of $30.06 and a fifty-two week high of $38.86. The company has a market capitalization of $192.18 million, a price-to-earnings ratio of 28.02 and a beta of 0.28. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.87 and a quick ratio of 0.87.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Monday, July 27th. The bank reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.09. The firm had revenue of $15.53 million during the quarter, compared to analysts’ expectations of $15.40 million. CB Financial Services had a net margin of 8.52% and a return on equity of 10.17%. As a group, sell-side analysts forecast that CB Financial Services will post 3.21 earnings per share for the current year.

CB Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.12 dividend on an annualized basis and a yield of 3.0%. CB Financial Services’s payout ratio is presently 82.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hazlett Burt & Watson Inc. acquired a new stake in shares of CB Financial Services during the fourth quarter worth $33,000. BNP Paribas Financial Markets boosted its stake in CB Financial Services by 89.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,343 shares of the bank’s stock worth $45,000 after purchasing an additional 635 shares during the period. JPMorgan Chase & Co. boosted its stake in CB Financial Services by 902.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,457 shares of the bank’s stock worth $70,000 after purchasing an additional 2,212 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in CB Financial Services during the 2nd quarter worth about $73,000. Finally, Raymond James Financial Inc. bought a new position in CB Financial Services during the 2nd quarter worth about $99,000. Institutional investors and hedge funds own 33.06% of the company’s stock.

CB Financial Services Company Profile

CB Financial Services, Inc is a bank holding company headquartered in the Kansas City metropolitan area. Through its subsidiary, Community Bank & Trust, F.S.B., the company provides a comprehensive suite of retail and commercial banking services. Its primary focus is meeting the financial needs of individuals, small businesses and agricultural clients within its regional footprint.

The company’s deposit product lineup includes checking accounts, savings accounts, money market accounts and certificates of deposit.