CNB Financial (NASDAQ:CCNE) Director Purchases $19,969.60 in Stock

CNB Financial Corporation (NASDAQ:CCNE) Director Jeffrey Powell purchased 560 shares of the stock in a transaction dated Thursday, November 12th. The shares were purchased at an average price of $35.66 per share, with a total value of $19,969.60. Following the completion of the transaction, the director owned 139,618 shares of the company’s stock, valued at approximately $4,978,777.88. This trade represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

CNB Financial Trading Down 0.2%

Shares of NASDAQ CCNE traded down $0.09 during trading on Friday, reaching $35.55. The stock had a trading volume of 48,619 shares, compared to its average volume of 153,834. 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 company has a market cap of $1.05 billion, a P/E ratio of 9.36 and a beta of 0.61. CNB Financial Corporation has a fifty-two week low of $23.78 and a fifty-two week high of $37.70. The business’s 50-day moving average price is $34.58 and its 200-day moving average price is $32.09.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Wednesday, October 21st. The bank reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. CNB Financial had a return on equity of 13.15% and a net margin of 23.26%. The firm had revenue of $87.79 million for the quarter, compared to analyst estimates of $87.76 million. On average, equities research analysts predict that CNB Financial Corporation will post 3.58 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 1st. CNB Financial’s dividend payout ratio is currently 20.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of CNB Financial during the 2nd quarter worth about $78,011,000. The Manufacturers Life Insurance Company purchased a new position in CNB Financial in the second quarter valued at approximately $7,667,000. Globeflex Capital L P acquired a new stake in CNB Financial during the second quarter worth approximately $5,396,000. Empowered Funds LLC acquired a new position in shares of CNB Financial in the 2nd quarter valued at $4,918,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of CNB Financial in the 2nd quarter valued at $1,690,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $40.00 target price on shares of CNB Financial in a research note on Tuesday, October 27th. DA Davidson upped their price target on CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings downgraded CNB Financial from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $37.00 price target (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Finally, Wall Street Zen downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.20.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.