CNB Financial Corp (NASDAQ:CCNE) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 91,900 shares, a decrease of 11.0% from the August 30th total of 103,300 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 20,400 shares, the days-to-cover ratio is presently 4.5 days.

CCNE has been the topic of a number of recent research reports. BidaskClub upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. Boenning Scattergood restated an “outperform” rating on shares of CNB Financial in a report on Thursday, June 20th. Finally, Zacks Investment Research cut shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th.

CCNE traded up $0.02 during midday trading on Monday, reaching $28.32. The company’s stock had a trading volume of 8,500 shares, compared to its average volume of 18,472. The firm has a market capitalization of $422.35 million, a price-to-earnings ratio of 12.68 and a beta of 0.99. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. CNB Financial has a 1 year low of $21.43 and a 1 year high of $30.53. The stock’s 50-day moving average is $27.96 and its 200-day moving average is $27.21.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. CNB Financial had a net margin of 22.18% and a return on equity of 13.88%. The business had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $33.72 million. As a group, equities research analysts forecast that CNB Financial will post 2.53 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its holdings in shares of CNB Financial by 11.9% during the second quarter. Russell Investments Group Ltd. now owns 7,500 shares of the bank’s stock valued at $211,000 after buying an additional 800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CNB Financial by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 35,304 shares of the bank’s stock valued at $997,000 after buying an additional 1,051 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of CNB Financial during the second quarter valued at approximately $35,000. Bank of New York Mellon Corp grew its holdings in shares of CNB Financial by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 93,231 shares of the bank’s stock valued at $2,633,000 after buying an additional 2,434 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of CNB Financial by 1.0% during the second quarter. Renaissance Technologies LLC now owns 322,702 shares of the bank’s stock valued at $9,113,000 after buying an additional 3,102 shares during the last quarter. Hedge funds and other institutional investors own 44.15% 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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