CNB Financial (NASDAQ:CCNE) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

CNB Financial Corporation (NASDAQ:CCNE - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.25 and traded as high as $24.50. CNB Financial shares last traded at $24.07, with a volume of 85,192 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CCNE. Stephens began coverage on shares of CNB Financial in a research report on Monday, April 14th. They set an "overweight" rating and a $26.50 target price on the stock. Keefe, Bruyette & Woods boosted their target price on shares of CNB Financial from $25.00 to $26.00 and gave the stock a "market perform" rating in a research report on Friday.

CNB Financial Trading Down 2.2%

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's 50 day simple moving average is $22.56 and its two-hundred day simple moving average is $23.26. The stock has a market cap of $496.78 million, a P/E ratio of 10.16 and a beta of 0.64.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. The business had revenue of $57.55 million during the quarter, compared to analyst estimates of $54.05 million. CNB Financial had a net margin of 14.50% and a return on equity of 9.80%. As a group, equities research analysts predict that CNB Financial Corporation will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 3.04%. CNB Financial's dividend payout ratio is presently 30.90%.

Institutional Investors Weigh In On CNB Financial

A number of institutional investors and hedge funds have recently bought and sold shares of CCNE. Tower Research Capital LLC TRC lifted its position in shares of CNB Financial by 618.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank's stock worth $52,000 after purchasing an additional 1,807 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of CNB Financial in the fourth quarter worth approximately $84,000. Lazard Asset Management LLC purchased a new stake in shares of CNB Financial in the fourth quarter worth approximately $143,000. State of Tennessee Department of Treasury purchased a new stake in shares of CNB Financial in the fourth quarter worth approximately $196,000. Finally, Intech Investment Management LLC purchased a new stake in shares of CNB Financial in the fourth quarter worth approximately $203,000. 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.