CNB Financial (NASDAQ:CCNE) Stock Rating Upgraded by Wall Street Zen

CNB Financial (NASDAQ:CCNE) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other equities research analysts have also recently weighed in on CCNE. Weiss Ratings restated a “hold (c+)” rating on shares of CNB Financial in a report on Wednesday, October 8th. Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods raised their target price on shares of CNB Financial from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Trading Up 1.2%

Shares of CNB Financial stock traded up $0.30 during trading on Friday, reaching $24.77. The company’s stock had a trading volume of 89,740 shares, compared to its average volume of 102,945. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18. CNB Financial has a 52-week low of $19.32 and a 52-week high of $29.03. The firm’s 50-day moving average is $24.88 and its two-hundred day moving average is $23.74. The company has a market cap of $730.12 million, a price-to-earnings ratio of 10.41 and a beta of 0.76.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Thursday, October 30th. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. The company had revenue of $77.70 million for the quarter, compared to analysts’ expectations of $68.50 million. On average, sell-side analysts anticipate that CNB Financial will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of CNB Financial by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock worth $273,000 after purchasing an additional 546 shares during the period. Tower Research Capital LLC TRC lifted its holdings in CNB Financial by 46.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after buying an additional 636 shares during the period. First Trust Advisors LP boosted its position in CNB Financial by 6.1% during the 2nd quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock valued at $306,000 after acquiring an additional 765 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of CNB Financial by 0.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 121,225 shares of the bank’s stock worth $2,947,000 after acquiring an additional 934 shares during the period. Finally, Blair William & Co. IL grew its holdings in shares of CNB Financial by 11.9% during the 1st quarter. Blair William & Co. IL now owns 9,508 shares of the bank’s stock worth $212,000 after acquiring an additional 1,008 shares during the period. 52.35% of the stock is currently owned by institutional investors.

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. The company 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.