DA Davidson raised the firm’s price target on CB Financial Services (CBFV) to $27 from $25 but keeps a Neutral rating on the shares. The company’s pre-provision net revenue missed due to weaker net interest income, fees, and operating expenditure, while the results profiled strong originations which were offset by heavy paydown activity to drive loan declines, deposit growth, net interest margin contraction, and a negative provision on the lack of growth, the analyst tells investors in a research note. The firm is also cutting its FY25 EPS view by 10c to $1.95.
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Read More on CBFV:
- CB Financial Services reports Q3 adjusted EPS 55c, consensus 51c
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