CB Financial Services (CBFV) AI Stock Analysis

• Market Cap: $172.47M
• Dividend Yield: 2.9%
• Average Volume (3M): 14.48K
• Price to Earnings (P/E): 37.4
• Beta (1Y): 0.56
• Revenue Growth: -1.39%
• EPS Growth: -88.66%
• Country: US
• Employees: 159
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 0.72
• Shares Outstanding: 5,010,883
• 10 Day Avg. Volume: 6,212
• 30 Day Avg. Volume: 14,479
• PEG Ratio: -0.26
• Price to Book (P/B): 1.00
• Price to Sales (P/S): 1.85
• P/FCF Ratio: 42.72
• Enterprise Value/Market Cap: 1.01
• Enterprise Value/Revenue: 2.59
• Enterprise Value/Gross Profit: 4.42
• Enterprise Value/Ebitda: 35.64
• 1Y Price Target: $39.00
• Price Target Upside: 12.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: $38.00 ▲(9.42% Upside)
• Action: Downgraded Date: 01/28/26
• Date: Action: Downgraded 01/28/26

The score is driven primarily by stable financial health—strong cash flow and very low leverage—tempered by declining revenue and modest profitability. Technicals are mildly supportive but largely neutral, while the very high P/E is a meaningful headwind despite a solid dividend and generally positive recent corporate updates.

Positive Factors

Cash flow strength

Robust free cash flow growth and a strong operating cash flow to net income ratio indicate durable internal funding. This enhances resilience to credit cycles, supports dividends and reinvestment, and gives management flexibility to fund loans, tech or M&A without relying on external capital.

Very low leverage

Extremely low debt-to-equity signals a conservative balance sheet that reduces solvency risk and interest expense vulnerability. For a regional bank, low leverage preserves regulatory flexibility, supports capital allocation for lending growth, and cushions earnings during rate volatility.

Dividend increase and governance moves

An 8% dividend raise paired with a permanent CFO hire and change-in-control agreement signals stable capital returns and strengthened financial leadership. These moves support investor confidence, continuity in execution of strategy, and disciplined capital allocation over the medium term.

Negative Factors

Declining revenue

Sustained top-line contraction reduces operating leverage and constrains ability to cover fixed costs. For a diversified financial services firm, shrinking revenue hampers investment in growth initiatives, weakens scale benefits in wealth and insurance channels, and pressures medium-term profitability.

Modest profitability / low ROE

Low net margin and subpar ROE indicate the firm struggles to convert assets and equity into attractive returns. Persistently weak profitability limits reinvestment capacity, makes dividend sustainability harder without cash flow support, and reduces competitiveness versus higher-return peers.

Elevated noninterest expenses

Rising noninterest costs from staffing and professional services can structurally depress efficiency ratios if not offset by revenue gains. Persistent higher operating expenses will erode margins and free cash flow, making it harder to improve ROE and fund growth without further cost discipline.

CB Financial Services Business Overview & Revenue Model

Company Description

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. Its loan products comprise residential real estate loans, such as one- to four-family mortgage loans, home equity installment loans, and home equity lines of credit; commercial real estate loans that are secured primarily by improved properties, such as retail facilities, office buildings, and other non-residential buildings; construction loans to individuals to finance the construction of residential dwellings, as well as for the construction of commercial properties, including hotels, apartment buildings, housing developments, and owner-occupied properties used for businesses; commercial and industrial loans, and lines of credit; consumer loans consisting of indirect auto loans, secured and unsecured loans, and lines of credit; and other loans. In addition, the company conducts insurance agency activities by offering property and casualty, commercial liability, surety, and other insurance products. It operates through its main office and 13 branch offices in Greene, Allegheny, Washington, Fayette, and Westmoreland counties in southwestern Pennsylvania; Marshall and Ohio counties in West Virginia; and Belmont County in Ohio, as well as one loan production offices in Allegheny County. The company was founded in 1901 and is headquartered in Carmichaels, Pennsylvania.

How the Company Makes Money

CBFV generates revenue through multiple streams, including management fees from investment funds, commissions from insurance products, and fees for financial advisory services. The firm charges a percentage of assets under management (AUM) for its investment management services, which is a key revenue driver. Additionally, it earns commission-based income from selling insurance policies and receives advisory fees for customized financial planning services. Significant partnerships with asset management firms and insurance providers enhance its service offerings and can lead to referral bonuses, further contributing to its earnings. The company's focus on building long-term relationships with clients also promotes client retention and recurring revenue.

CB Financial Services Financial Statement Overview

Summary

Overall fundamentals are steady: strong cash generation (free cash flow up 20.35% TTM; operating cash flow to net income 2.27) and very low leverage (debt-to-equity 0.0128). Offsetting this are weakening top-line trends (revenue growth -15.52% TTM) and modest profitability (net margin 4.05%, ROE 1.22%).

Income Statement

CB Financial Services shows a mixed performance in its income statement. The TTM data indicates a decline in revenue growth by 15.52%, which is concerning. However, the company maintains a positive gross profit margin of 54.92% and a net profit margin of 4.05%, suggesting some level of operational efficiency. The EBIT and EBITDA margins are relatively low at 4.64% and 6.66%, respectively, indicating potential challenges in managing operational costs.

Balance Sheet

The balance sheet reflects a strong equity position with a low debt-to-equity ratio of 0.0128 in the TTM period, indicating low leverage and financial stability. The return on equity is modest at 1.22%, suggesting limited profitability from equity. Overall, the balance sheet is stable, but the low ROE indicates room for improvement in generating returns from equity.

Cash Flow

Cash flow analysis reveals a positive trajectory with a 20.35% growth in free cash flow in the TTM period. The operating cash flow to net income ratio is strong at 2.27, indicating efficient cash generation relative to net income. The free cash flow to net income ratio is also healthy at 0.88, suggesting good cash conversion. Overall, the cash flow position is robust, supporting operational needs and potential investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	67.16M	79.20M	60.03M	54.74M	50.06M	54.49M
Gross Profit	39.35M	48.57M	42.86M	46.18M	47.78M	44.92M
EBITDA	4.88M	17.77M	33.02M	16.78M	17.13M	-6.05M
Net Income	2.69M	12.59M	22.55M	11.25M	11.57M	-10.64M
Balance Sheet
Total Assets	1.55B	1.48B	1.46B	1.41B	1.43B	1.42B
Cash, Cash Equivalents and Short-Term Investments	55.89M	309.09M	272.73M	291.06M	341.78M	303.81M
Total Debt	34.75M	34.72M	34.68M	22.70M	56.87M	49.05M
Total Liabilities	1.39B	1.33B	1.32B	1.30B	1.29B	1.28B
Stockholders Equity	152.47M	147.38M	139.83M	110.16M	133.12M	134.53M
Cash Flow
Free Cash Flow	13.64M	3.44M	10.94M	13.64M	10.67M	13.76M
Operating Cash Flow	14.37M	6.75M	14.24M	14.15M	13.05M	14.08M
Investing Cash Flow	-76.30M	-36.38M	-54.73M	-28.31M	-60.14M	-36.90M
Financing Cash Flow	-29.50M	10.98M	5.01M	-1.82M	5.85M	103.51M

CB Financial Services Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 34.73
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CBFV, the sentiment is Neutral. The current price of 34.73 is below the 20-day moving average (MA) of 35.91, below the 50-day MA of 35.42, and above the 200-day MA of 32.00, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 42.31 is Neutral, neither overbought nor oversold. The STOCH value of 9.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CBFV.

CB Financial Services Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UBFO	78 Outperform	$191.59M	15.57	8.41%	4.66%	-2.00%	-36.25%
PEBK	76 Outperform	$216.08M	10.93	11.73%	2.58%	4.52%	3.47%
OVBC	75 Outperform	$204.48M	13.11	8.95%	2.27%	10.35%	22.05%
MRBK	71 Outperform	$229.89M	10.56	11.39%	2.87%	9.77%	76.75%
HNVR	68 Neutral	$160.82M	22.36	5.60%	1.70%	0.99%	-6.35%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
CBFV	66 Neutral	$172.47M	37.41	1.78%	2.90%	-1.39%	-88.66%

CB Financial Services Corporate Events

CB Financial Services Raises Dividend After Strong 2025 Results

On January 21, 2026, CB Financial Services promoted Amanda L. Engles, who had served as interim chief financial officer since February 2025, to the role of chief financial officer and entered into a two-year change-in-control agreement with her that provides severance and continued benefits in the event of a qualifying termination following a change in control. Also in early 2026, the company disclosed that President and CEO John H. Montgomery will meet investors at the Janney CEO Forum in Scottsdale, Arizona on February 4–5, 2026, and on January 27, 2026 the board declared a $0.28 per share cash dividend—an 8% increase in the quarterly payout—payable on or about February 27, 2026, alongside reporting fourth-quarter and full-year 2025 results that showed improved net interest margin driven by a balance sheet repositioning strategy, modest asset growth, and higher adjusted earnings, albeit with elevated noninterest expenses tied to added personnel and professional services.

The most recent analyst rating on (CBFV) stock is a Hold with a $36.00 price target. To see the full list of analyst forecasts on CB Financial Services stock, see the CBFV Stock Forecast page.

CB Financial Services adjusts board size after director resignation

On December 29, 2025, CB Financial Services, Inc. announced that director Craig L. Kauffman resigned from the boards of both the company and its banking subsidiary, Community Bank, citing personal reasons unrelated to any dispute over operations, policies or practices. In response, the company and the bank opted to shrink the size of their respective boards to remove the vacancy, signaling a limited operational impact and an orderly adjustment to their governance structure rather than a sign of internal conflict or strategic shift.

The most recent analyst rating on (CBFV) stock is a Hold with a $37.00 price target. To see the full list of analyst forecasts on CB Financial Services stock, see the CBFV Stock Forecast page.

CB Financial Services Appoints Craig Kauffman to Board

On November 20, 2025, CB Financial Services, Inc. appointed Craig L. Kauffman to its Board of Directors, as well as to the Board of Directors of its subsidiary, Community Bank. Mr. Kauffman, a seasoned financial services executive with extensive experience in banking and wealth management, will also serve on the Audit and Compliance Committees. His appointment is expected to enhance the strategic vision and operational leadership of the company, given his track record of driving growth and delivering results in previous roles.

The most recent analyst rating on (CBFV) stock is a Hold with a $35.00 price target. To see the full list of analyst forecasts on CB Financial Services stock, see the CBFV Stock Forecast page.