CNB Financial Corporation (NASDAQ:CCNE) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of CNB Financial Corporation (NASDAQ:CCNE) have received a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $37.20.

CCNE has been the subject of a number of research reports. Raymond James Financial reiterated an “outperform” rating and issued a $40.00 price objective on shares of CNB Financial in a research report on Tuesday, October 27th. Wall Street Zen upgraded CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $37.00 price objective (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. Weiss Ratings lowered CNB Financial from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Finally, DA Davidson raised their target price on CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th.

CNB Financial Stock Down 2.2%

NASDAQ CCNE opened at $35.96 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50-day simple moving average of $34.38 and a 200 day simple moving average of $31.88. CNB Financial has a twelve month low of $23.78 and a twelve month high of $37.70. The stock has a market cap of $1.07 billion, a PE ratio of 9.46 and a beta of 0.61.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Wednesday, October 21st. The bank reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. CNB Financial had a return on equity of 13.23% and a net margin of 23.26%. The business had revenue of $87.79 million for the quarter, compared to the consensus estimate of $87.76 million. On average, research analysts forecast that CNB Financial will post 3.58 EPS for the current year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, September 1st. CNB Financial’s dividend payout ratio is presently 20.00%.

Institutional Trading of CNB Financial

Several hedge funds have recently modified their holdings of CCNE. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of CNB Financial in the second quarter valued at approximately $44,000. Parallel Advisors LLC raised its position in CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock worth $40,000 after purchasing an additional 1,220 shares during the last quarter. Quantbot Technologies LP acquired a new position in CNB Financial during the 2nd quarter worth $66,000. USA Financial Formulas acquired a new position in CNB Financial during the 3rd quarter worth $74,000. Finally, State of Alaska Department of Revenue lifted its holdings in CNB Financial by 9.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,457 shares of the bank’s stock worth $114,000 after buying an additional 297 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its principal banking operations, the company provides community banking services to individuals, families, businesses and organizations.

Its products and services generally include checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing and business loans. The company also offers electronic and mobile banking, cash-management services, investment and wealth-management solutions, and other financial services designed for personal and commercial customers.

CNB Financial serves communities primarily in Pennsylvania, Ohio and New York through a network of banking offices and digital channels.