CNB Financial Corp (NASDAQ:CCNE) was the recipient of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 75,500 shares, a growth of 22.2% from the November 14th total of 61,800 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 24,400 shares, the short-interest ratio is currently 3.1 days.
Shares of CCNE stock traded up $0.01 during midday trading on Friday, reaching $32.65. 38,293 shares of the stock were exchanged, compared to its average volume of 28,090. CNB Financial has a 1 year low of $21.43 and a 1 year high of $33.78. The company’s 50 day moving average is $31.93 and its two-hundred day moving average is $28.53. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.07. The firm has a market cap of $496.28 million, a PE ratio of 14.77 and a beta of 0.97.
CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Thursday, October 17th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. The company had revenue of $36.18 million for the quarter, compared to the consensus estimate of $35.52 million. CNB Financial had a return on equity of 13.75% and a net margin of 22.01%. As a group, equities analysts expect that CNB Financial will post 2.61 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Zebra Capital Management LLC purchased a new stake in shares of CNB Financial in the 3rd quarter worth approximately $208,000. State Street Corp grew its stake in shares of CNB Financial by 0.9% in the 3rd quarter. State Street Corp now owns 267,209 shares of the bank’s stock worth $7,669,000 after buying an additional 2,443 shares during the last quarter. CNB Bank grew its stake in shares of CNB Financial by 1.0% in the 3rd quarter. CNB Bank now owns 156,713 shares of the bank’s stock worth $4,497,000 after buying an additional 1,574 shares during the last quarter. First Trust Advisors LP grew its stake in shares of CNB Financial by 24.9% in the 3rd quarter. First Trust Advisors LP now owns 32,409 shares of the bank’s stock worth $930,000 after buying an additional 6,471 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in shares of CNB Financial by 94.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 26,210 shares of the bank’s stock worth $752,000 after buying an additional 12,753 shares during the last quarter. Institutional investors own 44.50% of the company’s stock.
CCNE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded CNB Financial from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Wednesday, October 23rd. BidaskClub upgraded CNB Financial from a “hold” rating to a “buy” rating in a report on Friday.
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.
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