Zacks Investment Research Downgrades CB Financial Services (CBFV) to Sell

Zacks Investment Research cut shares of CB Financial Services (NASDAQ:CBFV) from a hold rating to a sell rating in a research note published on Wednesday morning.

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. “

Shares of NASDAQ:CBFV opened at $25.85 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $139.96 million, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. CB Financial Services has a 12-month low of $22.82 and a 12-month high of $36.95.

CB Financial Services (NASDAQ:CBFV) last issued its quarterly earnings data on Thursday, January 31st. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $12.77 million for the quarter, compared to analyst estimates of $12.55 million. CB Financial Services had a return on equity of 6.49% and a net margin of 13.81%. On average, sell-side analysts forecast that CB Financial Services will post 2.15 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 21st. Investors of record on Monday, March 11th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.71%. This is an increase from CB Financial Services’s previous quarterly dividend of $0.23. The ex-dividend date is Friday, March 8th. CB Financial Services’s dividend payout ratio (DPR) is presently 54.44%.

In other news, Director John J. Lacarte bought 2,250 shares of the company’s stock in a transaction on Tuesday, December 18th. The stock was bought at an average cost of $25.25 per share, with a total value of $56,812.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan Bedway bought 4,000 shares of the company’s stock in a transaction on Tuesday, February 26th. The stock was purchased at an average cost of $26.13 per share, with a total value of $104,520.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,552 shares of company stock valued at $194,483 over the last three months. Corporate insiders own 10.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in CB Financial Services by 3.5% in the 4th quarter. BlackRock Inc. now owns 222,109 shares of the bank’s stock valued at $5,505,000 after acquiring an additional 7,609 shares in the last quarter. Janney Montgomery Scott LLC grew its position 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 acquiring an additional 8,774 shares in the last quarter. Wesbanco Bank Inc. grew its position in CB Financial Services by 3.3% in 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 in the last quarter. Geode Capital Management LLC grew its position in CB Financial Services by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 51,018 shares of the bank’s stock valued at $1,264,000 after acquiring an additional 1,955 shares in the last quarter. Finally, Northern Trust Corp acquired a new position in CB Financial Services in the 2nd quarter valued at about $1,443,000. 27.52% of the stock is owned by institutional investors.

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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