CNB Financial (NASDAQ:CCNE) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

A number of other analysts also recently issued reports on CCNE. ValuEngine downgraded shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of CNB Financial from a “hold” rating to a “sell” rating in a report on Wednesday, April 18th. Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial in a report on Tuesday, April 17th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of CNB Financial in a report on Tuesday, April 10th. They set a “market perform” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $31.50.

Shares of CNB Financial opened at $29.73 on Tuesday, according to MarketBeat. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.37. The stock has a market cap of $446.80 million, a PE ratio of 16.80 and a beta of 0.75. CNB Financial has a 52-week low of $29.61 and a 52-week high of $29.70.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, April 16th. The bank reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $28.85 million for the quarter, compared to analysts’ expectations of $28.62 million. CNB Financial had a net margin of 18.33% and a return on equity of 11.29%. equities research analysts forecast that CNB Financial will post 2.13 earnings per share for the current fiscal year.

In other news, Director Joel E. Peterson sold 2,000 shares of the stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $30.21, for a total value of $60,420.00. Following the transaction, the director now owns 7,751 shares in the company, valued at approximately $234,157.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 2,414 shares of company stock worth $72,624 in the last quarter. Company insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of CCNE. Wells Fargo & Company MN lifted its stake in shares of CNB Financial by 53.0% in the 3rd quarter. Wells Fargo & Company MN now owns 17,103 shares of the bank’s stock worth $468,000 after purchasing an additional 5,928 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of CNB Financial by 5.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 400,203 shares of the bank’s stock worth $10,934,000 after purchasing an additional 19,807 shares during the period. California Public Employees Retirement System lifted its stake in shares of CNB Financial by 11.2% in the 3rd quarter. California Public Employees Retirement System now owns 46,362 shares of the bank’s stock worth $1,267,000 after purchasing an additional 4,662 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of CNB Financial by 36.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 28,261 shares of the bank’s stock worth $742,000 after purchasing an additional 7,561 shares during the period. Finally, Bessemer Group Inc. bought a new position in shares of CNB Financial in the 4th quarter worth approximately $522,000. Hedge funds and other institutional investors own 43.35% of the company’s stock.

CNB Financial Company Profile

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. It accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.

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