Brokerages Set CNB Financial Corporation (NASDAQ:CCNE) PT at $34.33

Shares of CNB Financial Corporation (NASDAQ:CCNE) have earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $34.3333.

A number of analysts have recently weighed in on CCNE shares. Wall Street Zen downgraded CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Keefe, Bruyette & Woods raised their price target on CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNB Financial in a research note on Tuesday, June 9th. Finally, DA Davidson began coverage on shares of CNB Financial in a research report on Friday, May 15th. They set a “neutral” rating and a $34.00 price objective for the company.

Institutional Trading of CNB Financial

Several large investors have recently made changes to their positions in CCNE. Flagship Harbor Advisors LLC bought a new stake in CNB Financial during the fourth quarter worth $27,000. Founders Capital Management bought a new position in shares of CNB Financial in the 3rd quarter valued at $31,000. Parallel Advisors LLC increased its stake in shares of CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,220 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after buying an additional 636 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings 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. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Down 1.2%

Shares of CCNE opened at $32.97 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.13. CNB Financial has a 12 month low of $21.63 and a 12 month high of $34.92. The firm’s 50 day moving average is $31.67 and its 200-day moving average is $29.50. The stock has a market capitalization of $976.57 million, a PE ratio of 11.73 and a beta of 0.63.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Monday, April 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. The business had revenue of $83.32 million during the quarter, compared to analysts’ expectations of $79.35 million. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%. Equities research analysts forecast that CNB Financial will post 3.53 EPS for the current year.

CNB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.19 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. CNB Financial’s payout ratio is presently 27.05%.

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.