CNB Financial (NASDAQ:CCNE) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

CNB Financial Corporation (NASDAQ:CCNE)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.97 and traded as high as $32.51. CNB Financial shares last traded at $32.32, with a volume of 110,279 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CCNE. 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 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods upped their price target 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. Finally, Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.33.

CNB Financial Price Performance

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 business’s fifty day moving average is $30.96 and its 200 day moving average is $28.97. The firm has a market capitalization of $957.64 million, a P/E ratio of 11.50 and a beta of 0.64.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Monday, April 20th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $83.32 million during the quarter, compared to analyst estimates of $79.35 million. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. As a group, analysts forecast that CNB Financial Corporation 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 given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, June 1st. CNB Financial’s dividend payout ratio is 27.05%.

Hedge Funds Weigh In On CNB Financial

Hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new position in shares of CNB Financial in the 4th quarter worth $27,000. Founders Capital Management acquired a new position in shares of CNB Financial in the 3rd quarter valued at $31,000. Parallel Advisors LLC increased its stake in CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock worth $40,000 after purchasing an additional 1,220 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after purchasing an additional 636 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in CNB Financial by 16,173.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock worth $59,000 after buying an additional 2,426 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.