Zacks Investment Research upgraded shares of CB Financial Services (NASDAQ:CBFV) from a strong sell rating to a hold rating in a report released 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. “

NASDAQ:CBFV opened at $34.15 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $186.79 million, a PE ratio of 20.45, a P/E/G ratio of 1.82 and a beta of 0.40. CB Financial Services has a one year low of $25.50 and a one year high of $36.95.

CB Financial Services (NASDAQ:CBFV) last posted its quarterly earnings data on Friday, April 27th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.21). The company had revenue of $9.69 million during the quarter, compared to analysts’ expectations of $9.83 million. CB Financial Services had a return on equity of 7.03% and a net margin of 16.03%. sell-side analysts expect that CB Financial Services will post 1.9 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 18th. Stockholders of record on Friday, June 8th were paid a $0.22 dividend. The ex-dividend date was Thursday, June 7th. This represents a $0.88 annualized dividend and a dividend yield of 2.58%. CB Financial Services’s dividend payout ratio (DPR) is 52.69%.

In other CB Financial Services news, Director Jonathan Bedway purchased 5,808 shares of the business’s stock in a transaction on Friday, May 11th. The stock was acquired at an average price of $34.45 per share, for a total transaction of $200,085.60. Following the purchase, the director now owns 201 shares of the company’s stock, valued at approximately $6,924.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roberta Robinson Olejasz purchased 1,000 shares of the business’s stock in a transaction on Friday, May 4th. The stock was acquired at an average price of $31.70 per share, with a total value of $31,700.00. Following the purchase, the director now directly owns 3,773 shares in the company, valued at approximately $119,604.10. The disclosure for this purchase can be found here. Insiders bought a total of 7,258 shares of company stock valued at $247,828 over the last 90 days. 10.60% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in CB Financial Services by 653.4% in the 4th quarter. Wells Fargo & Company MN now owns 5,658 shares of the bank’s stock worth $169,000 after buying an additional 4,907 shares in the last quarter. Gendell Jeffrey L increased its stake in CB Financial Services by 20.7% in the 1st quarter. Gendell Jeffrey L now owns 56,861 shares of the bank’s stock worth $1,766,000 after buying an additional 9,736 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its stake in CB Financial Services by 10.5% in the 4th quarter. Kennedy Capital Management Inc. now owns 100,718 shares of the bank’s stock worth $3,022,000 after buying an additional 9,574 shares in the last quarter. Institutional investors and hedge funds own 17.14% 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. The company's deposit products include demand deposits, NOW accounts, money market accounts, savings accounts, and time deposits.

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