CNB Financial (NASDAQ:CCNE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.
Separately, Zacks Investment Research raised shares of CNB Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.50.
Shares of NASDAQ:CCNE opened at $30.54 on Friday. The company has a market capitalization of $464.22 million, a P/E ratio of 15.90 and a beta of 0.72. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.31. CNB Financial has a one year low of $24.33 and a one year high of $32.86.
CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Friday, July 20th. The bank reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $31.43 million during the quarter, compared to the consensus estimate of $29.91 million. CNB Financial had a net margin of 18.85% and a return on equity of 11.90%. research analysts forecast that CNB Financial will post 2.19 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of CNB Financial by 8.1% during the second quarter. Renaissance Technologies LLC now owns 249,300 shares of the bank’s stock valued at $7,494,000 after acquiring an additional 18,600 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CNB Financial by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 509,416 shares of the bank’s stock valued at $15,314,000 after acquiring an additional 38,942 shares during the last quarter. BlackRock Inc. raised its stake in shares of CNB Financial by 3.5% during the second quarter. BlackRock Inc. now owns 745,408 shares of the bank’s stock valued at $22,406,000 after acquiring an additional 24,915 shares during the last quarter. Maltese Capital Management LLC bought a new position in shares of CNB Financial during the second quarter valued at $651,000. Finally, LSV Asset Management raised its stake in shares of CNB Financial by 16.6% during the second quarter. LSV Asset Management now owns 172,649 shares of the bank’s stock valued at $5,189,000 after acquiring an additional 24,600 shares during the last quarter. 44.61% of the stock is owned by hedge funds and other institutional investors.
CNB Financial Company Profile
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. It 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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