CNB Financial (NASDAQ:CCNE) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• CNB Financial's stock price has recently surpassed its 200-day moving average, trading at $24.33 after reaching a high of $24.50.
• Analysts have set a price target of $27.75 for CNB Financial, with one analyst rating it a Buy and two assigning a Hold rating.
• The company declared a quarterly dividend of $0.18, representing a 3.0% yield, with a market capitalization of $717.25 million.

CNB Financial Corporation (NASDAQ:CCNE - Get Free Report)'s stock 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 trading hands.

Analysts Set New Price Targets

CCNE has been the topic of several research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of CNB Financial in a report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price objective on shares of CNB Financial from $26.00 to $29.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $27.75.

CNB Financial Stock Up 1.2%

The stock's fifty day moving average price is $24.91 and its 200-day moving average price is $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. The company has a market capitalization of $717.25 million, a price-to-earnings ratio of 10.22 and a beta of 0.68.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $61.80 million during the quarter, compared to analysts' expectations of $49.97 million. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. On average, sell-side analysts predict that CNB Financial Corporation will post 2.04 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were issued a $0.18 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. CNB Financial's dividend payout ratio (DPR) is presently 30.25%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in CNB Financial by 29.1% in the fourth quarter. Bank of America Corp DE now owns 33,554 shares of the bank's stock valued at $834,000 after purchasing an additional 7,559 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of CNB Financial by 13,860.2% in the first quarter. GAMMA Investing LLC now owns 15,775 shares of the bank's stock valued at $351,000 after buying an additional 15,662 shares in the last quarter. Stieven Capital Advisors L.P. increased its holdings in CNB Financial by 37.4% during the first quarter. Stieven Capital Advisors L.P. now owns 291,390 shares of the bank's stock worth $6,483,000 after buying an additional 79,312 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in CNB Financial during the first quarter worth $2,158,000. Finally, Blair William & Co. IL raised its position in CNB Financial by 11.9% during the first quarter. Blair William & Co. IL now owns 9,508 shares of the bank's stock worth $212,000 after acquiring an additional 1,008 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Company Profile

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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