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.
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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