CNB Financial Corporation (NASDAQ:CCNE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

CNB Financial Corporation (NASDAQ:CCNE) has received a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $34.3333.

CCNE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised 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 report on Tuesday, April 21st. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday. Finally, DA Davidson initiated coverage on shares of CNB Financial in a research report on Friday, May 15th. They set a “neutral” rating and a $34.00 price target for the company.

CNB Financial Stock Up 0.7%

CCNE stock opened at $32.80 on Tuesday. The firm has a 50 day moving average of $30.71 and a 200 day moving average of $28.69. The stock has a market capitalization of $971.86 million, a PE ratio of 11.67 and a beta of 0.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. CNB Financial has a 52 week low of $21.43 and a 52 week high of $33.10.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Monday, April 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.06. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. The company had revenue of $83.32 million during the quarter, compared to analyst estimates of $79.35 million. Sell-side analysts forecast that CNB Financial will post 3.53 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, June 1st. CNB Financial’s payout ratio is 27.05%.

Hedge Funds Weigh In On CNB Financial

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

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.