CNB Financial Corporation (NASDAQ:CCNE) Given Average Recommendation of “Moderate Buy” by Analysts

CNB Financial Corporation (NASDAQ:CCNE) has received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $36.00.

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 price target (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Finally, DA Davidson upped their price target on CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday.

CNB Financial Stock Up 2.7%

CNB Financial stock opened at $35.45 on Wednesday. The business’s 50-day moving average price is $32.69 and its 200 day moving average price is $30.26. 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 firm has a market cap of $1.05 billion, a price-to-earnings ratio of 11.40 and a beta of 0.63. CNB Financial has a 52 week low of $21.63 and a 52 week high of $35.60.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $88.52 million during the quarter, compared to the consensus estimate of $85.87 million. CNB Financial had a return on equity of 13.02% and a net margin of 19.37%. As a group, sell-side analysts anticipate that CNB Financial will post 3.58 earnings per share for the current year.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. CNB Financial’s dividend payout ratio (DPR) is 24.44%.

Institutional Investors Weigh In On CNB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CNB Financial by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock worth $273,000 after buying an additional 546 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after acquiring an additional 636 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of CNB Financial by 35.5% during the 3rd quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock worth $63,000 after acquiring an additional 679 shares during the period. First Trust Advisors LP boosted its position in shares of CNB Financial by 6.1% during the 2nd quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock valued at $306,000 after acquiring an additional 765 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of CNB Financial by 6.9% in the third quarter. Victory Capital Management Inc. now owns 12,504 shares of the bank’s stock valued at $303,000 after purchasing an additional 803 shares during the period. 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.