CNB Financial (NASDAQ:CCNE) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of CNB Financial Co. (NASDAQ:CCNE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.56 and traded as high as $25.05. CNB Financial shares last traded at $25.03, with a volume of 36,466 shares.

Analyst Ratings Changes

Separately, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

CNB Financial Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $519.22 million, a P/E ratio of 10.39 and a beta of 0.69. The stock’s 50-day moving average is $23.70 and its two-hundred day moving average is $21.59.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $89.52 million during the quarter, compared to analyst estimates of $55.30 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. As a group, equities research analysts predict that CNB Financial Co. will post 2.25 earnings per share for the current fiscal year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a yield of 2.91%. CNB Financial’s payout ratio is currently 30.25%.

Institutional Investors Weigh In On CNB Financial

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of CNB Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock valued at $21,463,000 after acquiring an additional 15,870 shares during the period. Dimensional Fund Advisors LP grew its position in shares of CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after acquiring an additional 24,666 shares during the period. American Century Companies Inc. grew its position in shares of CNB Financial by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after acquiring an additional 51,080 shares during the period. Bank of New York Mellon Corp grew its position in shares of CNB Financial by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 4,973 shares during the period. Finally, Empowered Funds LLC grew its position in shares of CNB Financial by 8.1% during the 1st quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock valued at $1,240,000 after acquiring an additional 4,550 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

About CNB Financial

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.