Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for CNB Financial (NASDAQ:CCNE) Stock

CNB Financial (NASDAQ:CCNE - Free Report) had its price objective lifted by Keefe, Bruyette & Woods from $25.00 to $26.00 in a report released on Friday morning,Benzinga reports. They currently have a market perform rating on the bank's stock.

Separately, Stephens initiated coverage on CNB Financial in a research note on Monday, April 14th. They issued an "overweight" rating and a $26.50 price objective on the stock.

CNB Financial Stock Performance

CCNE traded up $0.60 during trading hours on Friday, hitting $24.28. The company's stock had a trading volume of 199,584 shares, compared to its average volume of 65,466. The company has a 50-day simple moving average of $22.58 and a 200 day simple moving average of $23.22. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $509.37 million, a PE ratio of 10.42 and a beta of 0.64. CNB Financial has a fifty-two week low of $19.32 and a fifty-two week high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The bank reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. The company had revenue of $57.55 million for the quarter, compared to analyst estimates of $54.05 million. CNB Financial had a return on equity of 9.80% and a net margin of 14.50%. As a group, sell-side analysts expect that CNB Financial will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued 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 dividend yield of 2.97%. CNB Financial's payout ratio is currently 30.90%.

Institutional Trading of CNB Financial

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of CNB Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,108,371 shares of the bank's stock valued at $24,661,000 after acquiring an additional 3,472 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CNB Financial by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank's stock valued at $25,139,000 after purchasing an additional 33,424 shares during the last quarter. American Century Companies Inc. boosted its position in shares of CNB Financial by 10.5% in the 1st quarter. American Century Companies Inc. now owns 503,651 shares of the bank's stock valued at $11,206,000 after purchasing an additional 48,011 shares during the period. Ameriprise Financial Inc. boosted its position in shares of CNB Financial by 35.8% in the 4th quarter. Ameriprise Financial Inc. now owns 298,954 shares of the bank's stock valued at $7,432,000 after purchasing an additional 78,874 shares during the period. Finally, Stieven Capital Advisors L.P. increased its stake in CNB Financial by 37.4% in the 1st quarter. Stieven Capital Advisors L.P. now owns 291,390 shares of the bank's stock worth $6,483,000 after purchasing an additional 79,312 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.