CNB Financial (NASDAQ:CCNE) Downgraded to “Hold” Rating by Wall Street Zen

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

A number of other analysts also recently issued reports on CCNE. Janney Montgomery Scott raised shares of CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, CNB Financial has an average rating of “Moderate Buy” and a consensus price target of $27.75.

CNB Financial Stock Up 1.5%

CCNE stock opened at $27.70 on Friday. CNB Financial has a fifty-two week low of $19.32 and a fifty-two week high of $28.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $816.60 million, a price-to-earnings ratio of 11.40 and a beta of 0.73. The business’s fifty day moving average price is $26.79 and its two-hundred day moving average price is $25.37.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.77 by $0.11. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. The business had revenue of $86.36 million for the quarter, compared to the consensus estimate of $73.10 million. On average, equities analysts anticipate that CNB Financial will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CCNE. State of Alaska Department of Revenue raised its position in CNB Financial by 276.2% during the fourth quarter. State of Alaska Department of Revenue now owns 3,160 shares of the bank’s stock valued at $81,000 after purchasing an additional 2,320 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of CNB Financial in the 4th quarter valued at $27,000. JPMorgan Chase & Co. increased its stake in shares of CNB Financial by 67.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock valued at $6,272,000 after purchasing an additional 104,516 shares during the last quarter. Maltese Capital Management LLC raised its holdings in shares of CNB Financial by 228.4% during the 3rd quarter. Maltese Capital Management LLC now owns 478,200 shares of the bank’s stock worth $11,572,000 after buying an additional 332,600 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of CNB Financial during the 3rd quarter worth $444,000. 52.35% of the stock is 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.