CNB Financial Corporation (CCNE) – What Are Researchers Saying About This Stock?

CNB Financial Corporation (NASDAQ:CCNE) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.00.

A number of brokerages have recently issued reports on CCNE. Piper Sandler initiated coverage on shares of CNB Financial in a research report on Thursday, September 24th. They issued an “overweight” rating and a $38.00 target price for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $37.00 target price (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. DA Davidson raised their price target on shares of CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings raised shares of CNB Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial began coverage on shares of CNB Financial in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $39.00 price target for the company.

CNB Financial Price Performance

CNB Financial stock opened at $34.12 on Monday. The company’s 50-day moving average price is $34.07 and its two-hundred day moving average price is $32.78. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.01 billion, a P/E ratio of 10.97 and a beta of 0.62. CNB Financial has a twelve month low of $22.80 and a twelve month high of $36.17.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The company had revenue of $87.65 million for the quarter, compared to the consensus estimate of $85.87 million. CNB Financial had a return on equity of 12.85% and a net margin of 19.37%. As a group, analysts expect that CNB Financial will post 3.56 EPS for the current year.

CNB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.76 annualized dividend and a yield of 2.2%. CNB Financial’s payout ratio is currently 24.44%.

Hedge Funds Weigh In On CNB Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of CNB Financial in the second quarter worth $78,011,000. The Manufacturers Life Insurance Company purchased a new position in CNB Financial in the 2nd quarter worth $7,667,000. Globeflex Capital L P bought a new position in CNB Financial during the 2nd quarter worth approximately $5,396,000. Empowered Funds LLC bought a new position in shares of CNB Financial in the second quarter worth approximately $4,918,000. Finally, Pinnacle Holdings LLC bought a new stake in CNB Financial during the 2nd quarter valued at $1,690,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its principal subsidiary, CNB Bank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, cash-management services, online and mobile banking, and other treasury-management solutions. The company also provides wealth-management and investment-related services through its banking operations and affiliated businesses.

CNB Financial serves customers through a network of community banking offices primarily in Pennsylvania and neighboring markets, including parts of Ohio and Virginia.