CNB Financial (NASDAQ:CCNE) Rating Reiterated by Boenning Scattergood
Boenning Scattergood reiterated their outperform rating on shares of CNB Financial (NASDAQ:CCNE) in a research note released on Thursday, Zacks.com reports.
Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of CNB Financial from a hold rating to a buy rating in a report on Tuesday, May 7th. Zacks Investment Research raised shares of CNB Financial from a sell rating to a hold rating in a report on Tuesday, June 18th. Finally, ValuEngine raised shares of CNB Financial from a sell rating to a hold rating in a report on Friday, April 19th.
Shares of CCNE stock opened at $26.61 on Thursday. CNB Financial has a 12-month low of $21.43 and a 12-month high of $32.86. The stock has a market cap of $405.51 million, a P/E ratio of 12.04 and a beta of 0.91. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.19.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.56%. The ex-dividend date was Thursday, May 30th. CNB Financial’s payout ratio is presently 30.77%.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA increased its position in CNB Financial by 566.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,040 shares of the bank’s stock valued at $77,000 after acquiring an additional 2,584 shares in the last quarter. Citigroup Inc. increased its position in CNB Financial by 13.8% in the 4th quarter. Citigroup Inc. now owns 4,425 shares of the bank’s stock valued at $102,000 after acquiring an additional 537 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in CNB Financial by 428.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,843 shares of the bank’s stock valued at $111,000 after acquiring an additional 3,926 shares in the last quarter. SG Americas Securities LLC acquired a new stake in CNB Financial in the 1st quarter valued at about $184,000. Finally, Bank of America Corp DE increased its position in CNB Financial by 50.6% in the 4th quarter. Bank of America Corp DE now owns 11,046 shares of the bank’s stock valued at $254,000 after acquiring an additional 3,710 shares in the last quarter. Hedge funds and other institutional investors own 43.89% of the company’s stock.
About CNB Financial
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. The company 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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