CNB Financial (NASDAQ:CCNE) Upgraded by Wall Street Zen to “Buy” Rating

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

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

CNB Financial Stock Up 1.2%

CNB Financial stock traded up $0.30 during mid-day trading on Friday, hitting $24.77. The company had a trading volume of 89,740 shares, compared to its average volume of 102,945. CNB Financial has a 12 month low of $19.32 and a 12 month high of $29.03. The company has a market capitalization of $730.12 million, a PE ratio of 10.41 and a beta of 0.76. The stock’s 50 day moving average price is $24.88 and its two-hundred day moving average price is $23.74. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18.

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

Hedge Funds Weigh In On CNB Financial

Several hedge funds and other institutional investors have recently modified their holdings of CCNE. Peoples Financial Services CORP. purchased a new position in shares of CNB Financial in the 3rd quarter worth $28,000. Tower Research Capital LLC TRC increased its position in CNB Financial by 46.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after acquiring an additional 636 shares during the last quarter. CWM LLC boosted its position in CNB Financial by 230.2% in the third quarter. CWM LLC now owns 4,458 shares of the bank’s stock worth $108,000 after purchasing an additional 3,108 shares during the last quarter. AlphaQuest LLC purchased a new position in CNB Financial in the third quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of CNB Financial during the 2nd quarter valued at about $215,000. 52.35% of the stock is owned by institutional investors.

CNB Financial Company Profile

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.