CNB Financial Corporation (NASDAQ:CCNE) Receives Average Rating of “Moderate Buy” from Analysts

CNB Financial Corporation (NASDAQ:CCNE) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $34.3333.

Several equities research analysts have recently issued reports on CCNE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Keefe, Bruyette & Woods raised their price target on CNB Financial from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Finally, DA Davidson began coverage on CNB Financial in a research report on Friday, May 15th. They set a “neutral” rating and a $34.00 target price for the company.

CNB Financial Price Performance

Shares of CNB Financial stock opened at $32.56 on Tuesday. The stock’s 50-day simple moving average is $30.78 and its 200-day simple moving average is $28.76. CNB Financial has a 52 week low of $21.43 and a 52 week high of $33.22. The company has a market capitalization of $964.75 million, a price-to-earnings ratio of 11.59 and a beta of 0.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, April 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. The business had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $79.35 million. As a group, analysts expect that CNB Financial will post 3.53 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 1st. This represents a $0.76 annualized dividend and a yield of 2.3%. CNB Financial’s dividend payout ratio (DPR) is 27.05%.

Institutional Trading of CNB Financial

Several hedge funds have recently made changes to their positions in CCNE. Flagship Harbor Advisors LLC purchased a new stake in CNB Financial during the fourth quarter valued at approximately $27,000. Founders Capital Management purchased a new position in shares of CNB Financial in the 3rd quarter worth approximately $31,000. Parallel Advisors LLC increased its position in shares of CNB Financial by 847.2% during the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,220 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in CNB Financial by 16,173.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after buying an additional 2,426 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

CNB Financial Company Profile

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.