Keefe, Bruyette & Woods Boosts CNB Financial (NASDAQ:CCNE) Price Target to $29.00

CNB Financial (NASDAQ:CCNE - Get Free Report) had its price target hoisted by equities researchers at Keefe, Bruyette & Woods from $26.00 to $29.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 20.83% from the company's current price.

Separately, Stephens initiated coverage on shares of CNB Financial in a report on Monday, April 14th. They issued an "overweight" rating and a $26.50 target price for the company.

CNB Financial Price Performance

CCNE stock traded down $0.01 during midday trading on Thursday, hitting $24.00. The company's stock had a trading volume of 225,347 shares, compared to its average volume of 86,256. CNB Financial has a 12 month low of $19.32 and a 12 month high of $29.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $503.52 million, a price-to-earnings ratio of 10.08 and a beta of 0.64. The company has a 50 day moving average of $22.82 and a two-hundred day moving average of $23.18.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. CNB Financial had a net margin of 14.56% and a return on equity of 9.90%. The firm had revenue of $61.80 million during the quarter, compared to analyst estimates of $49.97 million. On average, analysts expect that CNB Financial will post 2.04 EPS for the current year.

Institutional Trading of CNB Financial

A number of institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC lifted its position in CNB Financial by 88.9% in the first quarter. Voya Investment Management LLC now owns 15,296 shares of the bank's stock worth $340,000 after buying an additional 7,197 shares during the last quarter. Strs Ohio bought a new stake in CNB Financial in the first quarter worth $263,000. Jane Street Group LLC bought a new stake in CNB Financial in the first quarter worth $714,000. Empowered Funds LLC lifted its position in CNB Financial by 7.4% in the first quarter. Empowered Funds LLC now owns 77,776 shares of the bank's stock worth $1,731,000 after buying an additional 5,370 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its position in CNB Financial by 53.7% in the first quarter. Dynamic Technology Lab Private Ltd now owns 13,040 shares of the bank's stock worth $290,000 after buying an additional 4,557 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.