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

CNB Financial (NASDAQ:CCNE - Get Free Report) had its price objective raised by investment analysts at Keefe, Bruyette & Woods from $25.00 to $26.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' target price would suggest a potential upside of 9.12% from the company's current price.

Separately, Stephens assumed coverage on shares of CNB Financial in a research report on Monday, April 14th. They set an "overweight" rating and a $26.50 price target on the stock.

CNB Financial Trading Down 1.6%

Shares of CCNE traded down $0.39 during mid-day trading on Friday, reaching $23.83. The stock had a trading volume of 24,984 shares, compared to its average volume of 64,570. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92. CNB Financial has a 52-week low of $19.32 and a 52-week high of $29.29. The business's fifty day moving average is $22.56 and its 200 day moving average is $23.26. The firm has a market cap of $499.85 million, a price-to-earnings ratio of 10.22 and a beta of 0.64.

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

Institutional Trading of CNB Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of CNB Financial by 29.1% in the 4th quarter. Bank of America Corp DE now owns 33,554 shares of the bank's stock valued at $834,000 after acquiring an additional 7,559 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of CNB Financial in the 4th quarter valued at $84,000. Dimensional Fund Advisors LP increased its holdings in shares of CNB Financial by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank's stock valued at $25,139,000 after acquiring an additional 33,424 shares during the period. Prudential Financial Inc. increased its holdings in shares of CNB Financial by 30.6% in the 4th 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 during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of CNB Financial by 17.9% in the 4th quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank's stock valued at $4,566,000 after acquiring an additional 27,874 shares during the period. Institutional investors and hedge funds 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.

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