Shares of CNB Financial Corporation (NASDAQ:CCNE – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $37.00.
A number of equities analysts recently issued reports on the stock. Raymond James Financial began coverage on shares of CNB Financial in a research report on Wednesday, August 26th. They issued an “outperform” rating and a $39.00 target price for the company. Weiss Ratings upgraded shares of CNB Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 price target (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Finally, DA Davidson increased their price objective on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a report on Monday, July 27th.
Get Our Latest Stock Analysis on CCNE
CNB Financial Trading Down 0.9%
CNB Financial (NASDAQ:CCNE – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. CNB Financial had a net margin of 19.37% and a return on equity of 12.85%. The business had revenue of $87.65 million for the quarter, compared to analysts’ expectations of $85.87 million. Equities analysts predict that CNB Financial will post 3.56 earnings per share for the current year.
CNB Financial Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.76 annualized dividend and a yield of 2.3%. CNB Financial’s payout ratio is presently 24.44%.
Hedge Funds Weigh In On CNB Financial
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in CNB Financial by 847.2% in the first quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock worth $40,000 after acquiring an additional 1,220 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CNB Financial in the 2nd quarter valued at about $44,000. Allspring Global Investments Holdings LLC boosted its position in shares of CNB Financial by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,344 shares of the bank’s stock valued at $444,000 after purchasing an additional 1,583 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of CNB Financial during the 2nd quarter valued at about $66,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of CNB Financial by 1.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 292,073 shares of the bank’s stock worth $8,458,000 after purchasing an additional 3,123 shares during the last quarter. 52.35% of the stock is owned by institutional investors.
CNB Financial Company Profile
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its principal subsidiary, CNB Bank, the company provides community banking services to individuals, families, businesses and nonprofit organizations.
Its offerings include checking and savings accounts, certificates of deposit, residential and consumer lending, commercial loans, mortgages, cash-management services, online and mobile banking, and other treasury-management solutions. The company also provides wealth-management and investment-related services through its banking operations and affiliated businesses.
CNB Financial serves customers through a network of community banking offices primarily in Pennsylvania and neighboring markets, including parts of Ohio and Virginia.
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