CB Financial Services (CBFV) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of CB Financial Services (NASDAQ:CBFV) from a sell rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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. “

A number of other equities research analysts also recently weighed in on CBFV. TheStreet raised shares of CB Financial Services from a c+ rating to a b- rating in a report on Wednesday, February 27th. ValuEngine lowered shares of CB Financial Services from a hold rating to a sell rating in a research report on Tuesday, March 12th.

CBFV opened at $23.39 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 0.85. CB Financial Services has a 12-month low of $22.77 and a 12-month high of $36.95. The firm has a market capitalization of $127.14 million, a P/E ratio of 13.84, a P/E/G ratio of 1.11 and a beta of 0.38.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 4.10%. CB Financial Services’s dividend payout ratio (DPR) is currently 56.80%.

In related news, Director John J. Lacarte bought 3,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $24.99 per share, for a total transaction of $74,970.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph N. Headlee acquired 2,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average price of $23.60 per share, for a total transaction of $47,200.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 5,575 shares of company stock valued at $136,229. Company insiders own 7.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CBFV. BlackRock Inc. increased its position in shares of CB Financial Services by 2.1% during the 3rd quarter. BlackRock Inc. now owns 214,500 shares of the bank’s stock worth $6,617,000 after purchasing an additional 4,335 shares during the last quarter. Renaissance Technologies LLC grew its holdings in CB Financial Services by 98.0% in the 3rd quarter. Renaissance Technologies LLC now owns 15,309 shares of the bank’s stock valued at $472,000 after buying an additional 7,576 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in CB Financial Services by 5.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 169,247 shares of the bank’s stock valued at $4,194,000 after buying an additional 8,774 shares in the last quarter. Wesbanco Bank Inc. lifted its position in shares of CB Financial Services by 3.3% during the 4th quarter. Wesbanco Bank Inc. now owns 57,705 shares of the bank’s stock valued at $1,430,000 after acquiring an additional 1,825 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of CB Financial Services by 18.7% during the 4th quarter. First Trust Advisors LP now owns 8,979 shares of the bank’s stock valued at $222,000 after acquiring an additional 1,414 shares during the period. Hedge funds and other institutional investors own 30.42% 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 southwestern Pennsylvania, West Virginia, and Ohio. The company's primary deposit products include demand deposits, NOW accounts, money market accounts, and savings accounts.

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