CNB Financial Corp. (NASDAQ:CCNE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “CNB Financial Corporation is a bank holding company headquartered in Clearfield, PA. It conducts business principally through County National Bank whose market area includes twenty convenient office locations in Pennsylvania. “

CNB Financial Corp. (NASDAQ:CCNE) opened at 24.00 on Wednesday. CNB Financial Corp. has a 12-month low of $16.51 and a 12-month high of $24.20. The company has a market cap of $344.66 million, a price-to-earnings ratio of 16.55 and a beta of 0.78. The firm’s 50-day moving average is $20.60 and its 200 day moving average is $19.18.

CNB Financial Corp. (NASDAQ:CCNE) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. CNB Financial Corp. had a return on equity of 10.05% and a net margin of 19.52%. On average, equities analysts expect that CNB Financial Corp. will post $1.60 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, November 29th. CNB Financial Corp.’s dividend payout ratio is presently 45.52%.

Several large investors have recently made changes to their positions in CCNE. California State Teachers Retirement System boosted its stake in shares of CNB Financial Corp. by 1.0% in the third quarter. California State Teachers Retirement System now owns 29,325 shares of the company’s stock valued at $621,000 after buying an additional 300 shares in the last quarter. Rhumbline Advisers boosted its position in CNB Financial Corp. by 1.8% in the third quarter. Rhumbline Advisers now owns 17,439 shares of the company’s stock valued at $369,000 after buying an additional 300 shares during the period. Vantage Investment Advisors LLC boosted its position in CNB Financial Corp. by 6.9% in the third quarter. Vantage Investment Advisors LLC now owns 7,699 shares of the company’s stock valued at $163,000 after buying an additional 499 shares during the period. BlackRock Advisors LLC boosted its position in CNB Financial Corp. by 9.4% in the third quarter. BlackRock Advisors LLC now owns 7,718 shares of the company’s stock valued at $163,000 after buying an additional 665 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in CNB Financial Corp. by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 91,386 shares of the company’s stock valued at $1,934,000 after buying an additional 1,295 shares during the period. Hedge funds and other institutional investors own 34.31% of the company’s stock.

CNB Financial Corp. Company Profile

CNB Financial Corporation is a financial holding company. The Company provides a range of banking and related services through its subsidiary, CNB Bank (the Bank). In addition, the Bank provides trust and asset management services, including the administration of trusts and estates, retirement plans and other employee benefit plans, as well as a range of wealth management services.

5 Day Chart for NASDAQ:CCNE

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