CNB Financial Corporation (NASDAQ:CCNE – Get Free Report) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $37.20.
CCNE has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of CNB Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, October 26th. Wall Street Zen downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $37.00 target price (up from $35.00) on shares of CNB Financial in a report on Friday, July 24th. DA Davidson boosted their target price on shares of CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Piper Sandler started coverage on shares of CNB Financial in a report on Thursday, September 24th. They set an “overweight” rating and a $38.00 price target for the company.
View Our Latest Research Report on CCNE
CNB Financial Stock Down 0.4%
CCNE opened at $36.11 on Friday. The business has a 50 day moving average price of $34.50 and a 200 day moving average price of $32.01. CNB Financial has a twelve month low of $23.78 and a twelve month high of $37.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $1.07 billion, a P/E ratio of 9.50 and a beta of 0.61.
CNB Financial (NASDAQ:CCNE – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. CNB Financial had a return on equity of 13.15% and a net margin of 23.26%. The company had revenue of $87.79 million for the quarter, compared to the consensus estimate of $87.76 million. Research analysts forecast that CNB Financial will post 3.58 EPS for the current year.
Hedge Funds Weigh In On CNB Financial
Several large investors have recently made changes to their positions in CCNE. State of Alaska Department of Revenue lifted its holdings in shares of CNB Financial by 9.4% during the third quarter. State of Alaska Department of Revenue now owns 3,457 shares of the bank’s stock worth $114,000 after buying an additional 297 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of CNB Financial by 7.2% in the third quarter. Private Advisor Group LLC now owns 6,878 shares of the bank’s stock worth $229,000 after acquiring an additional 459 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CNB Financial by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,491 shares of the bank’s stock worth $549,000 after acquiring an additional 648 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of 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 during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in CNB Financial during the second quarter worth $44,000. Institutional investors and hedge funds own 52.35% of the company’s stock.
CNB Financial Company Profile
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.
Further Reading
- Five stocks we like better than CNB Financial
- Why Kinder Morgan’s Chairman Just Bought $15 Million in Stock
- Rocket Lab’s Record Backlog Could Fuel a Rebound, But Neutron Raises the Stakes
- Don’t Let Their Low Yields Fool You: 3 Dividend Stocks Worth Watching
- A $4 Billion Jolt: NRG Energy Powers Data Center Ambitions
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}