CNB Financial (NASDAQ:CCNE) Stock Price Passes Above 200 Day Moving Average – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.29 and traded as high as $24.50. CNB Financial shares last traded at $24.33, with a volume of 104,937 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on CCNE shares. Keefe, Bruyette & Woods raised their price objective on CNB Financial from $26.00 to $29.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CNB Financial in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $27.75.

CNB Financial Stock Performance

The company has a market cap of $717.25 million, a P/E ratio of 10.22 and a beta of 0.68. The stock has a 50 day moving average price of $24.91 and a two-hundred day moving average price of $23.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $61.80 million for the quarter, compared to analyst estimates of $49.97 million. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. On average, research analysts predict that CNB Financial Corporation will post 2.04 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, August 29th. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of CNB Financial by 46.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after buying an additional 636 shares in the last quarter. Blair William & Co. IL raised its holdings in CNB Financial by 11.9% in the 1st quarter. Blair William & Co. IL now owns 9,508 shares of the bank’s stock valued at $212,000 after acquiring an additional 1,008 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in CNB Financial in the 2nd quarter valued at $215,000. Jump Financial LLC bought a new stake in shares of CNB Financial during the 1st quarter valued at $238,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of CNB Financial by 20.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 10,713 shares of the bank’s stock worth $238,000 after purchasing an additional 1,834 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

About CNB Financial

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.