CNB Financial Corporation (NASDAQ:CCNE – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.39 and last traded at $34.0450, with a volume of 10555 shares. The stock had previously closed at $33.71.
Analysts Set New Price Targets
Several research firms recently issued reports on CCNE. DA Davidson started coverage on CNB Financial in a research report on Friday, May 15th. They issued a “neutral” rating and a $34.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a research note on Tuesday, June 9th. Wall Street Zen lowered CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Keefe, Bruyette & Woods raised their price objective on CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.33.
Get Our Latest Stock Report on CCNE
CNB Financial Trading Up 1.9%
CNB Financial (NASDAQ:CCNE – Get Free Report) last posted its earnings results on Monday, April 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%.The firm had revenue of $83.32 million for the quarter, compared to analyst estimates of $79.35 million. On average, analysts predict that CNB Financial Corporation will post 3.53 earnings per share for the current fiscal year.
CNB Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.19 dividend. The ex-dividend date was Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. CNB Financial’s dividend payout ratio is 27.05%.
Institutional Trading of CNB Financial
Several institutional investors have recently bought and sold shares of the business. Pinnacle Holdings LLC purchased a new position in CNB Financial during the third quarter worth about $1,213,000. American Century Companies Inc. lifted its holdings in shares of CNB Financial by 11.4% in the 3rd quarter. American Century Companies Inc. now owns 605,374 shares of the bank’s stock worth $14,650,000 after acquiring an additional 61,898 shares during the last quarter. Stieven Capital Advisors L.P. boosted its position in shares of CNB Financial by 58.2% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 461,373 shares of the bank’s stock worth $11,165,000 after purchasing an additional 169,683 shares during the period. JPMorgan Chase & Co. increased its holdings in CNB Financial by 67.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock valued at $6,272,000 after purchasing an additional 104,516 shares during the last quarter. Finally, Maltese Capital Management LLC raised its position in CNB Financial by 228.4% in the third quarter. Maltese Capital Management LLC now owns 478,200 shares of the bank’s stock valued at $11,572,000 after purchasing an additional 332,600 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.
CNB Financial Company Profile
CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.
The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.
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