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

Shares of CNB Financial Corporation (NASDAQ:CCNE) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

A number of research firms have recently weighed in on CCNE. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. DA Davidson lifted their price objective on CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 target price (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNB Financial in a research note on Tuesday, June 9th.

Institutional Trading of CNB Financial

Several large investors have recently added to or reduced their stakes in CCNE. Wellington Management Group LLP raised its holdings in shares of CNB Financial by 116.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,876,033 shares of the bank’s stock valued at $45,400,000 after purchasing an additional 1,007,751 shares in the last quarter. Vanguard Group Inc. boosted its holdings in CNB Financial by 38.3% in the third quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after purchasing an additional 435,300 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CNB Financial by 37.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,480,034 shares of the bank’s stock worth $35,817,000 after buying an additional 406,167 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in CNB Financial by 335.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 266,663 shares of the bank’s stock worth $6,453,000 after buying an additional 205,464 shares during the last quarter. Finally, Fourthstone LLC raised its holdings in CNB Financial by 72.1% during the fourth quarter. Fourthstone LLC now owns 279,557 shares of the bank’s stock valued at $7,316,000 after buying an additional 117,100 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

CNB Financial Price Performance

NASDAQ CCNE opened at $35.72 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.49 and a beta of 0.63. The company has a 50 day simple moving average of $33.16 and a 200-day simple moving average of $30.58. CNB Financial has a 52-week low of $21.63 and a 52-week high of $36.17.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. CNB Financial had a net margin of 19.37% and a return on equity of 13.02%. The firm had revenue of $88.52 million for the quarter, compared to the consensus estimate of $85.87 million. Equities research analysts predict that CNB Financial will post 3.58 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a $0.19 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a yield of 2.1%. CNB Financial’s dividend payout ratio is currently 24.44%.

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.