CNB Financial (NASDAQ:CCNE) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.02 and traded as high as $26.71. CNB Financial shares last traded at $26.23, with a volume of 108,279 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen upgraded CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a report on Monday, December 29th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.75.

CNB Financial Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. The business has a fifty day moving average of $26.06 and a 200 day moving average of $25.03. The stock has a market cap of $773.16 million, a PE ratio of 13.18 and a beta of 0.73.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. CNB Financial had a net margin of 11.92% and a return on equity of 10.38%. Sell-side analysts anticipate that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 28th. CNB Financial’s payout ratio is currently 36.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Peoples Financial Services CORP. acquired a new stake in shares of CNB Financial in the third quarter valued at approximately $28,000. Founders Capital Management bought a new stake in shares of CNB Financial during the third quarter valued at about $31,000. Tower Research Capital LLC TRC grew its position in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after buying an additional 636 shares in the last quarter. Russell Investments Group Ltd. raised its position 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 worth $59,000 after buying an additional 2,426 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of CNB Financial by 35.5% during the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock valued at $63,000 after acquiring an additional 679 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

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.