CNB Financial (NASDAQ:CCNE) Given New $25.00 Price Target at Keefe, Bruyette & Woods

CNB Financial (NASDAQ:CCNE - Get Free Report) had its target price lowered by Keefe, Bruyette & Woods from $27.00 to $25.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective would suggest a potential upside of 18.65% from the company's previous close.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Stephens initiated coverage on CNB Financial in a research note on Monday, April 14th. They set an "overweight" rating and a $26.50 target price on the stock.

CNB Financial Stock Down 1.4 %

CNB Financial stock traded down $0.30 on Wednesday, hitting $21.07. 27,480 shares of the stock traded hands, compared to its average volume of 58,193. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The business's fifty day simple moving average is $23.02 and its 200 day simple moving average is $24.84. The firm has a market cap of $442.05 million, a P/E ratio of 8.85 and a beta of 0.53. CNB Financial has a 1 year low of $18.60 and a 1 year high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its earnings results on Monday, April 14th. The bank reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. The firm had revenue of $57.55 million during the quarter, compared to analyst estimates of $54.05 million. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. As a group, sell-side analysts forecast that CNB Financial will post 2.04 earnings per share for the current year.

Institutional Trading of CNB Financial

Several large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in CNB Financial by 19.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank's stock worth $3,616,000 after purchasing an additional 24,883 shares during the last quarter. Barclays PLC increased its position in CNB Financial by 274.7% in the third quarter. Barclays PLC now owns 27,528 shares of the bank's stock worth $663,000 after buying an additional 20,182 shares in the last quarter. Franklin Resources Inc. raised its position in shares of CNB Financial by 95.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,032 shares of the bank's stock valued at $530,000 after purchasing an additional 10,737 shares during the period. Prudential Financial Inc. lifted its position 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 valued at $1,219,000 after acquiring an additional 11,500 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in CNB Financial by 11.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank's stock valued at $3,749,000 after purchasing an additional 15,714 shares during the period. 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.