CNB Financial (NASDAQ:CCNE) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of CNB Financial (NASDAQ:CCNE) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also commented on CCNE. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a report on Monday, December 29th. Janney Montgomery Scott upgraded shares of CNB Financial to a “strong-buy” rating in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Stock Up 1.5%

CCNE stock opened at $27.70 on Friday. The stock has a market capitalization of $816.60 million, a price-to-earnings ratio of 11.40 and a beta of 0.73. The company has a 50-day moving average of $26.79 and a two-hundred day moving average of $25.38. CNB Financial has a 52-week low of $19.32 and a 52-week high of $28.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.11. CNB Financial had a return on equity of 11.83% and a net margin of 15.29%.The business had revenue of $86.36 million for the quarter, compared to analyst estimates of $73.10 million. As a group, equities research analysts anticipate that CNB Financial will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Friday, November 28th. CNB Financial’s payout ratio is 29.63%.

Institutional Investors Weigh In On CNB Financial

Several large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new stake in CNB Financial in the 4th quarter valued at $27,000. Peoples Financial Services CORP. bought a new position in shares of CNB Financial during the third quarter valued at $28,000. Founders Capital Management acquired a new stake in shares of CNB Financial in the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC boosted its stake in shares of 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 purchasing an additional 636 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of 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 last quarter. 52.35% of the stock is currently owned by institutional investors.

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.