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

Posted by on Jun 6th, 2022

StockNews.com started coverage on shares of CB Financial Services (NASDAQ:CBFV – Get Rating) in a research note issued to investors on Monday. The firm set a “hold” rating on the bank’s stock.

Separately, TheStreet lowered shares of CB Financial Services from a “b” rating to a “c+” rating in a research report on Tuesday, May 24th.

Shares of NASDAQ:CBFV opened at $23.88 on Monday. CB Financial Services has a fifty-two week low of $21.02 and a fifty-two week high of $26.80. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $22.89 and a 200 day moving average price of $23.98. The firm has a market cap of $123.03 million, a price-to-earnings ratio of 10.76 and a beta of 0.68.

Institutional investors have recently modified their holdings of the company. First National Trust Co grew its position in shares of CB Financial Services by 130.5% in the 4th quarter. First National Trust Co now owns 19,941 shares of the bank’s stock worth $480,000 after buying an additional 11,291 shares during the last quarter. Geode Capital Management LLC boosted its stake in CB Financial Services by 6.3% in the 3rd quarter. Geode Capital Management LLC now owns 47,616 shares of the bank’s stock worth $1,096,000 after purchasing an additional 2,807 shares in the last quarter. American Century Companies Inc. acquired a new stake in CB Financial Services during the 3rd quarter valued at approximately $209,000. The Manufacturers Life Insurance Company lifted its stake in CB Financial Services by 393.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 151,286 shares of the bank’s stock valued at $3,548,000 after acquiring an additional 120,630 shares during the period. Finally, Morgan Stanley lifted its stake in CB Financial Services by 26.9% during the 2nd quarter. Morgan Stanley now owns 16,630 shares of the bank’s stock valued at $369,000 after acquiring an additional 3,527 shares during the period. 30.65% of the stock is currently owned by hedge funds and other institutional investors.

About CB Financial Services (Get Rating)

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.

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