CNB Financial Corporation (NASDAQ:CCNE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CNB Financial Corporation (NASDAQ:CCNE) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.3333.

Several brokerages recently weighed in on CCNE. Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Wall Street Zen cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. DA Davidson began coverage on shares of CNB Financial in a report on Friday, May 15th. They issued a “neutral” rating and a $34.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st.

CNB Financial Price Performance

CNB Financial stock opened at $33.69 on Friday. 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 business’s 50-day simple moving average is $31.50 and its two-hundred day simple moving average is $29.37. The company has a market cap of $997.90 million, a PE ratio of 11.99 and a beta of 0.63. CNB Financial has a fifty-two week low of $21.63 and a fifty-two week high of $34.92.

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

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 1st. CNB Financial’s payout ratio is 27.05%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CCNE. Flagship Harbor Advisors LLC purchased a new stake in CNB Financial in the 4th quarter worth approximately $27,000. Founders Capital Management purchased a new position in shares of CNB Financial during the 3rd quarter valued at approximately $31,000. Parallel Advisors LLC lifted its stake in shares of CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,220 shares during the period. Tower Research Capital LLC TRC lifted 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 period. Finally, Russell Investments Group Ltd. lifted its stake in shares of CNB Financial by 16,173.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,426 shares during the period. 52.35% of the stock is currently owned by hedge funds and other 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.