CNB Financial Corporation (NASDAQ:CCNE – Get Free Report)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $28.00 and traded as high as $31.27. CNB Financial shares last traded at $30.65, with a volume of 87,016 shares.
Analysts Set New Price Targets
CCNE has been the subject of a number of recent research reports. DA Davidson initiated coverage on CNB Financial in a research note on Friday, May 15th. They set a “neutral” rating and a $34.00 price objective for the company. Keefe, Bruyette & Woods upped their price target on shares of CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 21st. Stephens lifted their price objective on shares of CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Wall Street Zen lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.33.
View Our Latest Research Report on CCNE
CNB Financial Trading Down 0.5%
CNB Financial (NASDAQ:CCNE – Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm had revenue of $83.32 million during the quarter, compared to analyst estimates of $79.35 million. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. Analysts expect that CNB Financial Corporation will post 3.53 EPS for the current year.
CNB Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 1st. CNB Financial’s dividend payout ratio (DPR) is currently 27.05%.
Institutional Investors Weigh In On CNB Financial
Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of CNB Financial by 201.7% during the 1st quarter. AQR Capital Management LLC now owns 43,890 shares of the bank’s stock valued at $977,000 after purchasing an additional 29,343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CNB Financial by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock valued at $273,000 after buying an additional 546 shares during the period. Empowered Funds LLC boosted its stake in CNB Financial by 7.4% during the first quarter. Empowered Funds LLC now owns 77,776 shares of the bank’s stock valued at $1,731,000 after buying an additional 5,370 shares in the last quarter. Jane Street Group LLC acquired a new position in CNB Financial during the first quarter worth about $714,000. Finally, Rhumbline Advisers grew its holdings in CNB Financial by 5.3% during the second quarter. Rhumbline Advisers now owns 31,828 shares of the bank’s stock worth $728,000 after acquiring an additional 1,590 shares during the period. 52.35% of the stock is currently 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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