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

CNB Financial Corporation (NASDAQ:CCNE) has been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat.com reports. Two 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 1 year price objective among brokers that have issued a report on the stock in the last year is $34.3333.

A number of analysts recently commented on CCNE shares. Keefe, Bruyette & Woods boosted their target price on shares of CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Wall Street Zen lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Finally, DA Davidson initiated coverage on CNB Financial in a research report on Friday, May 15th. They set a “neutral” rating and a $34.00 price objective for the company.

Hedge Funds Weigh In On CNB Financial

A number of institutional investors have recently bought and sold shares of CCNE. Flagship Harbor Advisors LLC acquired a new position in shares of CNB Financial in the fourth quarter worth about $27,000. Founders Capital Management purchased a new stake in shares of CNB Financial in the 3rd quarter valued at approximately $31,000. Parallel Advisors LLC lifted its position in shares of 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 acquiring an additional 1,220 shares in the last quarter. Tower Research Capital LLC TRC boosted 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 worth $46,000 after purchasing an additional 636 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake 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 purchasing an additional 2,426 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Price Performance

CCNE stock traded up $0.16 during trading hours on Friday, hitting $33.62. 63,379 shares of the stock traded hands, compared to its average volume of 194,937. The stock has a 50-day simple moving average of $31.78 and a 200 day simple moving average of $29.58. CNB Financial has a one year low of $21.63 and a one year high of $34.92. The company has a market cap of $995.82 million, a P/E ratio of 11.96 and a beta of 0.63. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13.

CNB Financial (NASDAQ:CCNE) last issued 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 firm had revenue of $83.32 million for the quarter, compared to analysts’ expectations of $79.35 million. Equities analysts forecast that CNB Financial will post 3.53 earnings per share for the current year.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 1st. CNB Financial’s dividend payout ratio is currently 27.05%.

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.