CNB Financial Corporation (CCNE) - What Are Researchers Thinking About This Stock?

Key Points

• Analysts maintain a Moderate Buy consensus on CNB Financial, with four buy ratings, one strong-buy rating and two holds. The average 12-month price target is $37.00, above the reported share price of $33.28.
• CNB Financial exceeded quarterly expectations, reporting $0.91 earnings per share versus the $0.86 consensus estimate and revenue of $87.65 million versus $85.87 million expected.
• Institutional investors and hedge funds own 52.35% of the stock, while the company pays a quarterly dividend of $0.19 per share, equivalent to a 2.3% yield and a 24.44% payout ratio.

Shares of CNB Financial Corporation (NASDAQ:CCNE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $37.00.

Several research analysts have commented on CCNE shares. Weiss Ratings upgraded shares of CNB Financial from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Piper Sandler began coverage on CNB Financial in a research note on Thursday, September 24th. They set an "overweight" rating and a $38.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $37.00 target price (up from $35.00) on shares of CNB Financial in a report on Friday, July 24th. DA Davidson raised their target price on CNB Financial from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Raymond James Financial initiated coverage on CNB Financial in a research note on Wednesday, August 26th. They issued an "outperform" rating and a $39.00 price target on the stock.

Institutional Trading of CNB Financial

Several large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CNB Financial in the second quarter valued at about $44,000. Parallel Advisors LLC lifted its holdings in shares of CNB Financial by 847.2% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the bank's stock worth $40,000 after acquiring an additional 1,220 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of CNB Financial in the second quarter worth about $66,000. Alliance Wealth Advisors LLC bought a new position in shares of CNB Financial in the second quarter worth about $231,000. Finally, Sanctuary Advisors LLC bought a new position in shares of CNB Financial in the second quarter worth about $235,000. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Price Performance

CCNE stock opened at $33.28 on Monday. The company's 50-day moving average price is $34.22 and its two-hundred day moving average price is $32.59. The firm has a market cap of $985.75 million, a P/E ratio of 10.70 and a beta of 0.62. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. CNB Financial has a 12 month low of $22.80 and a 12 month high of $36.17.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.05. The company had revenue of $87.65 million during the quarter, compared to the consensus estimate of $85.87 million. CNB Financial had a net margin of 19.37% and a return on equity of 12.85%. On average, analysts anticipate that CNB Financial will post 3.56 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 1st. CNB Financial's dividend payout ratio is currently 24.44%.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its principal subsidiary, CNB Bank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, cash-management services, online and mobile banking, and other treasury-management solutions. The company also provides wealth-management and investment-related services through its banking operations and affiliated businesses.

CNB Financial serves customers through a network of community banking offices primarily in Pennsylvania and neighboring markets, including parts of Ohio and Virginia.

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