CNB Financial (NASDAQ:CCNE) Upgraded at Wall Street Zen

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

A number of other research analysts have also weighed in on CCNE. Keefe, Bruyette & Woods increased their price objective on CNB Financial from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. DA Davidson started coverage on CNB Financial in a report on Friday, May 15th. They issued a “neutral” rating and a $34.00 price objective on the stock. Stephens increased their price objective on CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Finally, Weiss Ratings raised CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

CNB Financial Stock Up 0.2%

Shares of CCNE stock opened at $31.05 on Friday. The stock’s 50-day simple moving average is $30.37 and its 200-day simple moving average is $28.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $920.01 million, a PE ratio of 11.05 and a beta of 0.64. CNB Financial has a fifty-two week low of $21.43 and a fifty-two week high of $31.80.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Monday, April 20th. The bank reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $83.32 million for the quarter, compared to analyst estimates of $79.35 million. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%. Equities analysts expect that CNB Financial will post 3.53 earnings per share for the current year.

Institutional Trading of CNB Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CNB Financial by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock worth $273,000 after acquiring an additional 546 shares during the period. Ameritas Investment Partners Inc. grew its holdings in CNB Financial by 29.9% during the third quarter. Ameritas Investment Partners Inc. now owns 2,660 shares of the bank’s stock worth $64,000 after acquiring an additional 613 shares during the period. Tower Research Capital LLC TRC grew its holdings in CNB Financial by 46.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after acquiring an additional 636 shares during the period. Legal & General Group Plc grew its holdings in 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 acquiring an additional 679 shares during the period. Finally, First Trust Advisors LP grew its holdings in CNB Financial by 6.1% during the second quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock worth $306,000 after acquiring an additional 765 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

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.