CNB Financial (NASDAQ:CCNE) Stock Rating Upgraded by Wall Street Zen

CNB Financial (NASDAQ:CCNE) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. Janney Montgomery Scott upgraded CNB Financial to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Monday. One research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Stock Performance

CNB Financial stock opened at $27.37 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. The stock has a market cap of $806.87 million, a PE ratio of 13.75 and a beta of 0.74. CNB Financial has a 12-month low of $19.32 and a 12-month high of $28.04. The business’s 50-day moving average price is $25.39 and its two-hundred day moving average price is $24.54.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. CNB Financial had a net margin of 11.92% and a return on equity of 10.38%. As a group, analysts expect that CNB Financial will post 2.04 earnings per share for the current fiscal year.

Institutional Trading of CNB Financial

Several institutional investors have recently added to or reduced their stakes in CCNE. Peoples Financial Services CORP. acquired a new stake in CNB Financial during the 3rd quarter valued at approximately $28,000. Founders Capital Management acquired a new position in shares of CNB Financial in the 3rd quarter worth approximately $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 during the last quarter. Russell Investments Group Ltd. increased its position in shares of CNB Financial by 16,173.3% during the third quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock worth $59,000 after buying an additional 2,426 shares during the period. Finally, Legal & General Group Plc increased its position in shares of CNB Financial by 35.5% during the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock worth $63,000 after buying an additional 679 shares during the period. 52.35% of the stock is currently owned by institutional investors.

About CNB Financial

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.