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

CNB Financial Corporation (NASDAQ:CCNE) has received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $34.3333.

A number of brokerages have issued reports on CCNE. Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday, June 9th. Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Keefe, Bruyette & Woods upped their target price on CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. Finally, DA Davidson began coverage on shares of CNB Financial in a research note on Friday, May 15th. They issued a “neutral” rating and a $34.00 price target on the stock.

Institutional Trading of CNB Financial

Several institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in shares of CNB Financial during the fourth quarter worth about $27,000. Founders Capital Management acquired a new position in shares of CNB Financial during the 3rd quarter worth about $31,000. Parallel Advisors LLC lifted its stake in CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock valued at $40,000 after buying an additional 1,220 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after buying an additional 636 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in CNB Financial by 16,173.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock worth $59,000 after buying an additional 2,426 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Performance

CCNE stock opened at $33.69 on Friday. The company’s 50-day simple moving average is $31.50 and its 200-day simple moving average is $29.37. 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 has a 52-week low of $21.63 and a 52-week high of $34.92. The firm has a market cap of $997.90 million, a P/E ratio of 11.99 and a beta of 0.63.

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

CNB Financial Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.3%. CNB Financial’s dividend payout ratio is currently 27.05%.

About CNB Financial

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.