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

Shares of CNB Financial Corporation (NASDAQ:CCNE) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $36.00.

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $37.00 price objective (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. DA Davidson boosted their price objective on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday, June 9th.

Institutional Investors Weigh In On CNB Financial

A number of large investors have recently bought and sold shares of CCNE. Wellington Management Group LLP lifted its stake in CNB Financial by 38.2% during the 4th quarter. Wellington Management Group LLP now owns 2,592,950 shares of the bank’s stock valued at $67,858,000 after acquiring an additional 716,917 shares during the period. Vanguard Group Inc. increased its stake in shares of CNB Financial by 38.3% in the third quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after acquiring an additional 435,300 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of CNB Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank’s stock worth $43,613,000 after acquiring an additional 27,236 shares during the period. Geode Capital Management LLC raised its holdings in shares of CNB Financial by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 792,749 shares of the bank’s stock worth $20,750,000 after purchasing an additional 34,520 shares during the last quarter. Finally, State Street Corp lifted its position in CNB Financial by 2.4% during the fourth quarter. State Street Corp now owns 612,507 shares of the bank’s stock valued at $16,029,000 after purchasing an additional 14,219 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Price Performance

Shares of CCNE stock opened at $35.45 on Wednesday. CNB Financial has a fifty-two week low of $21.63 and a fifty-two week high of $35.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 11.40 and a beta of 0.63. The stock’s 50-day simple moving average is $32.69 and its 200-day simple moving average is $30.26.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $88.52 million during the quarter, compared to analyst estimates of $85.87 million. CNB Financial had a net margin of 19.37% and a return on equity of 13.02%. As a group, equities analysts forecast that CNB Financial will post 3.58 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. CNB Financial’s dividend payout ratio is currently 24.44%.

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.