CNB Financial (NASDAQ:CCNE) Upgraded at BidaskClub

BidaskClub upgraded shares of CNB Financial (NASDAQ:CCNE) from a hold rating to a buy rating in a research report sent to investors on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently weighed in on CCNE. Boenning Scattergood reissued an outperform rating on shares of CNB Financial in a research note on Thursday, June 20th. Zacks Investment Research raised shares of CNB Financial from a sell rating to a hold rating in a research note on Tuesday, June 18th.

Shares of NASDAQ CCNE opened at $29.52 on Friday. CNB Financial has a 1-year low of $21.43 and a 1-year high of $30.72. The company has a market cap of $459.28 million, a PE ratio of 13.36 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a 50-day moving average of $27.15 and a two-hundred day moving average of $26.99.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Friday, July 19th. The bank reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. CNB Financial had a net margin of 22.18% and a return on equity of 13.88%. The company had revenue of $35.59 million during the quarter, compared to the consensus estimate of $33.72 million. As a group, equities research analysts forecast that CNB Financial will post 2.53 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Thursday, August 29th. CNB Financial’s dividend payout ratio (DPR) is 30.77%.

Several institutional investors and hedge funds have recently bought and sold shares of CCNE. Bank of Montreal Can bought a new stake in shares of CNB Financial during the second quarter worth approximately $35,000. BNP Paribas Arbitrage SA raised its stake in shares of CNB Financial by 566.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,040 shares of the bank’s stock worth $77,000 after buying an additional 2,584 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of CNB Financial by 289.0% during the second quarter. Acadian Asset Management LLC now owns 5,014 shares of the bank’s stock worth $141,000 after buying an additional 3,725 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of CNB Financial during the first quarter worth approximately $184,000. Finally, Russell Investments Group Ltd. raised its stake in shares of CNB Financial by 11.9% during the second quarter. Russell Investments Group Ltd. now owns 7,500 shares of the bank’s stock worth $211,000 after buying an additional 800 shares during the last quarter. 44.15% of the stock is owned by institutional investors and hedge funds.

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. The company 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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