CNB Financial Corp (CCNE) Given $33.50 Consensus Target Price by Analysts
Shares of CNB Financial Corp (NASDAQ:CCNE) have received an average broker rating score of 2.00 (Buy) from the two analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Brokerages have set a twelve-month consensus price target of $33.50 for the company and are predicting that the company will post $0.62 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CNB Financial an industry rank of 171 out of 256 based on the ratings given to related companies.
A number of research firms have commented on CCNE. ValuEngine raised shares of CNB Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Zacks Investment Research raised shares of CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Wednesday, October 24th. BidaskClub raised shares of CNB Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 5th. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial in a research note on Monday, October 22nd.
CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Friday, October 19th. The bank reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. CNB Financial had a net margin of 19.33% and a return on equity of 12.58%. The company had revenue of $32.81 million during the quarter, compared to analyst estimates of $31.80 million. On average, research analysts forecast that CNB Financial will post 2.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a dividend of $0.17 per share. The ex-dividend date was Thursday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.81%. CNB Financial’s dividend payout ratio (DPR) is presently 38.42%.
In related news, Director Francis X. Straub III purchased 4,000 shares of the stock in a transaction on Monday, November 26th. The shares were bought at an average price of $26.00 per share, for a total transaction of $104,000.00. Following the completion of the acquisition, the director now directly owns 10,090 shares in the company, valued at approximately $262,340. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have acquired 8,055 shares of company stock worth $195,354. Corporate insiders own 4.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its position in CNB Financial by 0.5% in the third quarter. Vanguard Group Inc now owns 589,205 shares of the bank’s stock worth $17,005,000 after purchasing an additional 3,220 shares during the period. Vanguard Group Inc. lifted its position in CNB Financial by 0.5% in the third quarter. Vanguard Group Inc. now owns 589,205 shares of the bank’s stock worth $17,005,000 after purchasing an additional 3,220 shares during the period. MetLife Investment Advisors LLC lifted its position in CNB Financial by 57.9% in the third quarter. MetLife Investment Advisors LLC now owns 10,708 shares of the bank’s stock worth $309,000 after purchasing an additional 3,926 shares during the period. First Trust Advisors LP lifted its position in CNB Financial by 16.0% in the third quarter. First Trust Advisors LP now owns 43,936 shares of the bank’s stock worth $1,268,000 after purchasing an additional 6,047 shares during the period. Finally, Citadel Advisors LLC bought a new position in CNB Financial in the third quarter worth $230,000. Institutional investors and hedge funds own 43.90% of the company’s stock.
About CNB Financial
CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. It accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.
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