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

CNB Financial Corporation (NASDAQ:CCNE) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $34.3333.

Several research firms have recently commented on CCNE. Weiss Ratings upgraded CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Wall Street Zen upgraded CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday. Stephens boosted 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. Keefe, Bruyette & Woods boosted 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. Finally, DA Davidson began coverage on CNB Financial in a report on Friday, May 15th. They set a “neutral” rating and a $34.00 price objective for the company.

CNB Financial Trading Up 1.0%

Shares of CCNE stock opened at $31.37 on Tuesday. The company has a market cap of $929.49 million, a P/E ratio of 11.16 and a beta of 0.64. The stock has a 50 day simple moving average of $30.43 and a two-hundred day simple moving average of $28.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. 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 issued its earnings results on Monday, April 20th. The bank reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. The business had revenue of $83.32 million during the quarter, compared to the consensus estimate of $79.35 million. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%. Research analysts forecast that CNB Financial will post 3.53 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, June 1st. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. CNB Financial’s payout ratio is currently 27.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new position in shares of CNB Financial during the fourth quarter valued at approximately $27,000. Founders Capital Management purchased a new position in shares of CNB Financial during the third quarter valued at approximately $31,000. Parallel Advisors LLC boosted its position 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 valued at $40,000 after buying an additional 1,220 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of CNB Financial by 46.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after buying an additional 636 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted 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 valued at $59,000 after buying an additional 2,426 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.