CNB Financial (NASDAQ:CCNE) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

CNB Financial Corporation (NASDAQ:CCNE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.44 and traded as high as $28.81. CNB Financial shares last traded at $28.33, with a volume of 264,189 shares changing hands.

Analyst Ratings Changes

CCNE has been the topic of several research reports. Weiss Ratings raised shares of CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a research report on Thursday, March 12th. Stephens lifted their price objective on shares of CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Finally, Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $32.00.

CNB Financial Trading Up 0.1%

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The company has a market cap of $846.52 million, a PE ratio of 11.75 and a beta of 0.71. The company has a fifty day simple moving average of $28.25 and a two-hundred day simple moving average of $26.47.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.10. CNB Financial had a return on equity of 11.10% and a net margin of 15.29%.The business had revenue of $87.16 million during the quarter, compared to analysts’ expectations of $73.10 million. Analysts anticipate that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were issued a dividend of $0.19 per share. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $0.76 annualized dividend and a yield of 2.7%. CNB Financial’s dividend payout ratio (DPR) is presently 31.28%.

Institutional Investors Weigh In On CNB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CCNE. Flagship Harbor Advisors LLC acquired a new position in shares of CNB Financial during the fourth quarter worth $27,000. Peoples Financial Services CORP. acquired a new stake in CNB Financial in the third quarter valued at $28,000. Founders Capital Management acquired a new stake in CNB Financial in the third quarter valued at $31,000. Tower Research Capital LLC TRC lifted its holdings in CNB Financial by 46.8% during the 2nd 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 last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in CNB Financial by 16,173.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock worth $59,000 after buying an additional 2,426 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

About CNB Financial

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.