CNB Financial (NASDAQ:CCNE) Hits New 52-Week High – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE) shares hit a new 52-week high on Monday . The stock traded as high as $28.72 and last traded at $28.6370, with a volume of 51080 shares. The stock had previously closed at $27.70.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. Finally, Janney Montgomery Scott upgraded CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Stock Up 2.2%

The company has a market capitalization of $834.46 million, a price-to-earnings ratio of 11.67 and a beta of 0.73. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $26.79 and a two-hundred day moving average price of $25.39.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.11. CNB Financial had a return on equity of 11.83% and a net margin of 15.29%.The firm had revenue of $86.36 million during the quarter, compared to the consensus estimate of $73.10 million. As a group, sell-side analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.5%. CNB Financial’s dividend payout ratio (DPR) is presently 29.63%.

Institutional Investors Weigh In On CNB Financial

A number of institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in CNB Financial by 116.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,876,033 shares of the bank’s stock valued at $45,400,000 after purchasing an additional 1,007,751 shares during the period. Vanguard Group Inc. lifted its stake in CNB Financial by 38.3% in the third quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock valued at $38,058,000 after buying an additional 435,300 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CNB Financial by 37.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,480,034 shares of the bank’s stock valued at $35,817,000 after buying an additional 406,167 shares during the last quarter. Davis Asset Management L.P. boosted its holdings in shares of CNB Financial by 27.7% during the second quarter. Davis Asset Management L.P. now owns 894,033 shares of the bank’s stock valued at $20,438,000 after acquiring an additional 194,033 shares during the period. Finally, American Century Companies Inc. grew its position in shares of CNB Financial by 11.4% during the third quarter. American Century Companies Inc. now owns 605,374 shares of the bank’s stock worth $14,650,000 after acquiring an additional 61,898 shares during the last quarter. 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.