CNB Financial Corporation (NASDAQ:CCNE) Stock Has Consensus Price Target of $37.20

Key Points

• Analyst sentiment is moderately positive: Six firms give CNB Financial a consensus “Moderate Buy” rating, with a 12-month average price target of $37.20.
• Quarterly results edged past expectations: CNB Financial reported earnings of $0.91 per share versus the $0.88 consensus, while revenue of $87.79 million was essentially in line with estimates.
• The company pays a quarterly dividend: Its $0.19-per-share dividend equates to $0.76 annually and a 2.1% yield.

Shares of CNB Financial Corporation (NASDAQ:CCNE - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $37.20.

A number of research analysts recently issued reports on the stock. Piper Sandler initiated coverage on shares of CNB Financial in a research note on Thursday, September 24th. They issued an "overweight" rating and a $38.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $40.00 target price on shares of CNB Financial in a research report on Tuesday, October 27th. Weiss Ratings cut shares of CNB Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, October 26th. DA Davidson upped their price target on shares of CNB Financial from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $37.00 price target (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th.

Institutional Trading of CNB Financial

Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in CNB Financial by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,491 shares of the bank's stock worth $549,000 after acquiring an additional 648 shares during the period. Alps Advisors Inc. acquired a new position in CNB Financial during the 3rd quarter valued at $558,000. USA Financial Formulas acquired a new position in CNB Financial during the 3rd quarter valued at $74,000. State of Alaska Department of Revenue raised its stake in CNB Financial by 9.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 3,457 shares of the bank's stock valued at $114,000 after purchasing an additional 297 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in CNB Financial in the 2nd quarter valued at $337,000. Institutional investors own 52.35% of the company's stock.

CNB Financial Stock Down 2.2%

Shares of CNB Financial stock opened at $35.96 on Friday. CNB Financial has a 12-month low of $23.78 and a 12-month high of $37.70. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $34.38 and a two-hundred day moving average price of $31.88. The stock has a market capitalization of $1.07 billion, a P/E ratio of 9.46 and a beta of 0.61.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The bank reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. CNB Financial had a net margin of 23.26% and a return on equity of 13.23%. The company had revenue of $87.79 million for the quarter, compared to analyst estimates of $87.76 million. Equities analysts expect that CNB Financial will post 3.58 earnings per share for the current year.

CNB Financial Dividend Announcement

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 2.1%. The ex-dividend date of this dividend was Tuesday, September 1st. CNB Financial's payout ratio is currently 20.00%.

About CNB Financial

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

Its products and services generally include checking and savings accounts, certificates of deposit, residential mortgages, consumer loans, commercial real estate financing and business loans. The company also offers electronic and mobile banking, cash-management services, investment and wealth-management solutions, and other financial services designed for personal and commercial customers.

CNB Financial serves communities primarily in Pennsylvania, Ohio and New York through a network of banking offices and digital channels.

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