CNB Financial (NASDAQ:CCNE) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

CNB Financial Corporation (NASDAQ:CCNE) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.41 and traded as high as $31.37. CNB Financial shares last traded at $31.05, with a volume of 125,036 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CCNE shares. Weiss Ratings raised CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Stephens upped their target price on CNB Financial from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson started coverage on CNB Financial in a report on Friday, May 15th. They issued a “neutral” rating and a $34.00 target price for the company. Finally, Keefe, Bruyette & Woods upped their target price on CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.33.

CNB Financial Trading Up 0.2%

The business has a fifty day simple moving average of $30.37 and a 200-day simple moving average of $28.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $920.01 million, a price-to-earnings ratio of 11.05 and a beta of 0.64.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Monday, April 20th. The bank reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.06. The company 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%. As a group, equities analysts forecast that CNB Financial Corporation will post 3.53 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.76 annualized dividend and a dividend yield of 2.4%. CNB Financial’s dividend payout ratio is presently 27.05%.

Institutional Investors Weigh In On CNB Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Holdings LLC acquired a new stake in shares of CNB Financial in the third quarter valued at about $1,213,000. PNC Financial Services Group Inc. increased its stake in shares of CNB Financial by 78.5% in the third quarter. PNC Financial Services Group Inc. now owns 41,220 shares of the bank’s stock valued at $998,000 after buying an additional 18,131 shares during the period. Stieven Capital Advisors L.P. increased its stake in shares of CNB Financial by 58.2% in the third quarter. Stieven Capital Advisors L.P. now owns 461,373 shares of the bank’s stock valued at $11,165,000 after buying an additional 169,683 shares during the period. American Century Companies Inc. increased its stake in shares of CNB Financial by 11.4% in the third quarter. American Century Companies Inc. now owns 605,374 shares of the bank’s stock valued at $14,650,000 after buying an additional 61,898 shares during the period. Finally, Oppenheimer & Close LLC acquired a new stake in shares of CNB Financial in the third quarter valued at about $1,782,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Company Profile

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.