CNB Financial (CCNE) Lowered to “Sell” at BidaskClub
CNB Financial (NASDAQ:CCNE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday.
Other equities analysts also recently issued research reports about the company. Boenning Scattergood reissued a “buy” rating on shares of CNB Financial in a research report on Friday, October 20th. Zacks Investment Research raised CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research report on Monday, October 23rd. Finally, ValuEngine downgraded CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th.
CNB Financial (NASDAQ CCNE) opened at $28.23 on Friday. The stock has a market capitalization of $420.76, a price-to-earnings ratio of 16.29 and a beta of 0.84. CNB Financial has a 1-year low of $20.91 and a 1-year high of $29.76. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.11.
A number of institutional investors have recently added to or reduced their stakes in CCNE. Vanguard Group Inc. increased its position in CNB Financial by 26.6% during the first quarter. Vanguard Group Inc. now owns 490,396 shares of the bank’s stock worth $11,716,000 after buying an additional 102,942 shares in the last quarter. Royce & Associates LP increased its position in CNB Financial by 5.8% during the second quarter. Royce & Associates LP now owns 725,163 shares of the bank’s stock worth $17,382,000 after buying an additional 39,995 shares in the last quarter. Dimensional Fund Advisors LP increased its position in CNB Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 380,396 shares of the bank’s stock worth $9,118,000 after buying an additional 38,699 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its position in CNB Financial by 16.3% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 178,402 shares of the bank’s stock worth $4,874,000 after buying an additional 25,000 shares in the last quarter. Finally, First Trust Advisors LP increased its position in CNB Financial by 201.6% during the second quarter. First Trust Advisors LP now owns 35,313 shares of the bank’s stock worth $846,000 after buying an additional 23,604 shares in the last quarter. 42.85% of the stock is owned by institutional investors.
About CNB Financial
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.