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

by · The Markets Daily

Shares of CNB Financial Corporation (NASDAQ:CCNE – Get Free Report) have received an average rating of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $36.75.

Several research analysts recently weighed in on CCNE shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $37.00 target price (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Weiss Ratings restated a “buy (b)” rating on shares of CNB Financial in a research note on Friday, September 4th. DA Davidson upped their price objective on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Raymond James Financial started coverage on shares of CNB Financial in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $39.00 price objective for the company. Finally, Wall Street Zen cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Read Our Latest Analysis on CNB Financial

CNB Financial Stock Performance

CCNE stock opened at $33.95 on Thursday. CNB Financial has a one year low of $22.80 and a one year high of $36.17. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 10.92 and a beta of 0.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a 50-day simple moving average of $34.46 and a two-hundred day simple moving average of $31.98.

CNB Financial (NASDAQ:CCNE – Get Free Report) last announced its earnings results on Thursday, July 23rd. The bank reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. CNB Financial had a net margin of 19.37% and a return on equity of 12.85%. The company had revenue of $87.65 million during the quarter, compared to the consensus estimate of $85.87 million. On average, equities analysts forecast that CNB Financial will post 3.56 EPS for the current fiscal year.

CNB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 1st. CNB Financial’s dividend payout ratio is presently 24.44%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in shares of CNB Financial by 847.2% during the first quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock worth $40,000 after purchasing an additional 1,220 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in CNB Financial in the second quarter valued at $44,000. Quantbot Technologies LP purchased a new stake in CNB Financial in the second quarter valued at $66,000. Eurizon Capital SGR S.p.A. purchased a new stake in CNB Financial in the fourth quarter valued at $138,000. Finally, Sanctuary Advisors LLC acquired a new stake in CNB Financial during the 1st quarter worth about $220,000. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Company Profile

(Get Free Report)

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its banking subsidiaries and regional banking brands, the company provides community banking services to individuals, families, businesses and organizations.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, business loans, treasury and cash-management services, online and mobile banking, and wealth-management and trust services.

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