CNB Financial (NASDAQ:CCNE) Price Target Raised to $29.00

CNB Financial (NASDAQ:CCNE - Get Free Report) had its target price raised by Keefe, Bruyette & Woods from $26.00 to $29.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 17.37% from the stock's previous close.

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

CNB Financial Stock Performance

Shares of CCNE traded up $0.48 during trading hours on Thursday, hitting $24.71. The company's stock had a trading volume of 40,492 shares, compared to its average volume of 83,518. The company has a market cap of $518.35 million, a price-to-earnings ratio of 10.37 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50 day simple moving average of $22.74 and a two-hundred day simple moving average of $23.19. CNB Financial has a 52-week low of $19.32 and a 52-week high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, topping 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 business had revenue of $61.80 million during the quarter, compared to analysts' expectations of $49.97 million. On average, equities analysts expect that CNB Financial will post 2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNB Financial

Several large investors have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in CNB Financial during the fourth quarter valued at $203,000. American Century Companies Inc. increased its position in CNB Financial by 13.3% during the fourth quarter. American Century Companies Inc. now owns 455,640 shares of the bank's stock valued at $11,327,000 after acquiring an additional 53,661 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of CNB Financial by 30.6% in the fourth quarter. Prudential Financial Inc. now owns 49,046 shares of the bank's stock worth $1,219,000 after purchasing an additional 11,500 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of CNB Financial by 17.9% in the fourth quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank's stock worth $4,566,000 after purchasing an additional 27,874 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of CNB Financial by 14.0% in the fourth quarter. Wells Fargo & Company MN now owns 16,299 shares of the bank's stock worth $405,000 after purchasing an additional 1,997 shares during the last quarter. Institutional investors 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.

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