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

CNB Financial (NASDAQ:CCNE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their target price 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 shares of CNB Financial in a research report on Friday, May 15th. They issued a “neutral” rating and a $34.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

CNB Financial Stock Up 1.3%

Shares of CNB Financial stock opened at $33.97 on Friday. CNB Financial has a twelve month low of $21.63 and a twelve month high of $34.29. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 12.09 and a beta of 0.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $31.17 and a 200 day moving average price of $29.14.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Monday, April 20th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The company 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 research analysts forecast that CNB Financial will post 3.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its stake in CNB Financial by 116.1% in the third quarter. Wellington Management Group LLP now owns 1,876,033 shares of the bank’s stock worth $45,400,000 after purchasing an additional 1,007,751 shares in the last quarter. Vanguard Group Inc. grew its position in shares of CNB Financial by 38.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after acquiring an additional 435,300 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of CNB Financial by 37.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,480,034 shares of the bank’s stock worth $35,817,000 after acquiring an additional 406,167 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of CNB Financial by 228.4% in the 3rd quarter. Maltese Capital Management LLC now owns 478,200 shares of the bank’s stock valued at $11,572,000 after acquiring an additional 332,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of CNB Financial by 335.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 266,663 shares of the bank’s stock valued at $6,453,000 after acquiring an additional 205,464 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

CNB Financial Company Profile

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.