CNB Financial (NASDAQ:CCNE) Given Market Perform Rating at Keefe, Bruyette & Woods

CNB Financial (NASDAQ:CCNE)‘s stock had its “market perform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $37.00 price target on the bank’s stock, up from their prior price target of $35.00. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 6.92% from the company’s current price.

Other analysts have also issued research reports about the company. Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Finally, DA Davidson started coverage on shares of CNB Financial in a research note on Friday, May 15th. They set a “neutral” rating and a $34.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.33.

CNB Financial Stock Up 2.0%

CNB Financial stock traded up $0.69 during trading hours on Friday, hitting $34.60. The stock had a trading volume of 50,365 shares, compared to its average volume of 158,977. The stock has a market capitalization of $1.03 billion, a P/E ratio of 12.33 and a beta of 0.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average price is $32.39 and its 200-day moving average price is $30.07. CNB Financial has a 12-month low of $21.63 and a 12-month high of $35.24.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $88.52 million for the quarter, compared to analysts’ expectations of $85.87 million. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%. Equities research analysts anticipate that CNB Financial will post 3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of CNB Financial by 201.7% during the first quarter. AQR Capital Management LLC now owns 43,890 shares of the bank’s stock valued at $977,000 after purchasing an additional 29,343 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CNB Financial by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock valued at $273,000 after buying an additional 546 shares in the last quarter. Empowered Funds LLC raised its position in shares of CNB Financial by 7.4% in the 1st quarter. Empowered Funds LLC now owns 77,776 shares of the bank’s stock valued at $1,731,000 after purchasing an additional 5,370 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of CNB Financial during the first quarter valued at $714,000. Finally, Rhumbline Advisers grew its stake in CNB Financial by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 31,828 shares of the bank’s stock valued at $728,000 after purchasing an additional 1,590 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

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.