CNB Financial (NASDAQ:CCNE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research analysts have also recently weighed in on the stock. ValuEngine cut shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 target price on the stock in a research note on Monday, October 23rd. Finally, Boenning Scattergood restated a “buy” rating on shares of CNB Financial in a research note on Friday, October 20th.

CNB Financial (NASDAQ CCNE) opened at $28.23 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.96 and a current ratio of 0.96. CNB Financial has a one year low of $20.91 and a one year high of $29.76. The firm has a market cap of $450.78, a price-to-earnings ratio of 15.99 and a beta of 0.84.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. CNB Financial had a net margin of 20.28% and a return on equity of 10.94%. The company had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $28.52 million. research analysts expect that CNB Financial will post 1.67 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Royce & Associates LP lifted its stake in CNB Financial by 5.8% in the 2nd quarter. Royce & Associates LP now owns 725,163 shares of the bank’s stock worth $17,382,000 after purchasing an additional 39,995 shares in the last quarter. Vanguard Group Inc. lifted its stake in CNB Financial by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 532,453 shares of the bank’s stock worth $12,763,000 after purchasing an additional 42,057 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in CNB Financial by 5.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 400,203 shares of the bank’s stock worth $10,934,000 after purchasing an additional 19,807 shares in the last quarter. State Street Corp lifted its stake in CNB Financial by 3.4% in the 2nd quarter. State Street Corp now owns 253,997 shares of the bank’s stock worth $6,089,000 after purchasing an additional 8,363 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in CNB Financial by 7.4% in the 2nd quarter. Stifel Financial Corp now owns 198,113 shares of the bank’s stock worth $4,752,000 after purchasing an additional 13,566 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

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About CNB Financial

CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.

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