CNB Financial (NASDAQ:CCNE) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Shares of CNB Financial Corporation (NASDAQ:CCNE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.72 and traded as high as $24.98. CNB Financial shares last traded at $24.47, with a volume of 63,302 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCNE. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CNB Financial in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price target on shares of CNB Financial from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Finally, Janney Montgomery Scott raised shares of CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CNB Financial currently has an average rating of “Moderate Buy” and a consensus price target of $27.75.

CNB Financial Stock Performance

The business’s fifty day moving average is $24.88 and its two-hundred day moving average is $23.75. The stock has a market capitalization of $730.12 million, a PE ratio of 10.41 and a beta of 0.76. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. The company had revenue of $77.70 million for the quarter, compared to the consensus estimate of $68.50 million. As a group, research analysts anticipate that CNB Financial Corporation will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $0.18 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.9%. CNB Financial’s dividend payout ratio (DPR) is currently 36.18%.

Institutional Investors Weigh In On CNB Financial

Several institutional investors have recently modified their holdings of CCNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CNB Financial by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock worth $273,000 after purchasing an additional 546 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after buying an additional 636 shares during the period. First Trust Advisors LP lifted its holdings in shares of CNB Financial by 6.1% in the 2nd quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock worth $306,000 after buying an additional 765 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of CNB Financial by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 121,225 shares of the bank’s stock worth $2,947,000 after buying an additional 934 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of CNB Financial by 11.9% during the first quarter. Blair William & Co. IL now owns 9,508 shares of the bank’s stock valued at $212,000 after buying an additional 1,008 shares during the period. 52.35% of the stock is owned by 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.