ValuEngine Downgrades CNB Financial (CCNE) to Sell

ValuEngine lowered shares of CNB Financial (NASDAQ:CCNE) from a hold rating to a sell rating in a research report released on Thursday morning.

CCNE has been the topic of several other research reports. BidaskClub raised shares of CNB Financial from a sell rating to a hold rating in a research note on Friday, August 24th. Zacks Investment Research raised shares of CNB Financial from a hold rating to a buy rating and set a $29.00 target price on the stock in a research note on Wednesday, October 24th. Finally, Boenning Scattergood reissued a buy rating on shares of CNB Financial in a research note on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. CNB Financial has an average rating of Hold and a consensus target price of $31.17.

Shares of CCNE stock traded down $0.14 during trading hours on Thursday, reaching $25.59. The stock had a trading volume of 14,132 shares, compared to its average volume of 20,857. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.31. CNB Financial has a twelve month low of $25.25 and a twelve month high of $32.86. The stock has a market cap of $391.14 million, a PE ratio of 12.54 and a beta of 0.75.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Friday, October 19th. The bank reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $32.81 million for the quarter, compared to analysts’ expectations of $31.80 million. CNB Financial had a net margin of 19.33% and a return on equity of 12.69%. Equities analysts forecast that CNB Financial will post 2.24 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Maltese Capital Management LLC acquired a new position in CNB Financial during the 2nd quarter valued at about $651,000. Schwab Charles Investment Management Inc. increased its stake in CNB Financial by 16.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 32,961 shares of the bank’s stock valued at $959,000 after buying an additional 4,700 shares during the period. First Trust Advisors LP increased its stake in CNB Financial by 19.7% during the 2nd quarter. First Trust Advisors LP now owns 37,889 shares of the bank’s stock valued at $1,139,000 after buying an additional 6,233 shares during the period. Wells Fargo & Company MN increased its stake in CNB Financial by 33.9% during the 3rd quarter. Wells Fargo & Company MN now owns 47,667 shares of the bank’s stock valued at $1,376,000 after buying an additional 12,057 shares during the period. Finally, LSV Asset Management increased its stake in CNB Financial by 16.6% during the 2nd quarter. LSV Asset Management now owns 172,649 shares of the bank’s stock valued at $5,189,000 after buying an additional 24,600 shares during the period. 44.58% of the stock is currently owned by hedge funds and other 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. It 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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