CNB Financial (NASDAQ:CCNE) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.50 and traded as high as $27.96. CNB Financial shares last traded at $27.80, with a volume of 121,050 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Janney Montgomery Scott raised shares of CNB Financial to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Monday. Finally, Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.75.

CNB Financial Stock Down 1.5%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market cap of $806.76 million, a price-to-earnings ratio of 13.75 and a beta of 0.74. The business’s 50 day moving average is $25.39 and its 200 day moving average is $24.54.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a return on equity of 10.38% and a net margin of 11.92%.The company had revenue of $77.70 million during the quarter, compared to analyst estimates of $68.50 million. Equities analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, November 28th. CNB Financial’s payout ratio is 36.18%.

Institutional Trading of CNB Financial

Several institutional investors have recently made changes to their positions in CCNE. Peoples Financial Services CORP. acquired a new position in CNB Financial in the 3rd quarter valued at approximately $28,000. Founders Capital Management acquired a new stake in shares of CNB Financial during the 3rd quarter valued at $31,000. Tower Research Capital LLC TRC grew its holdings in shares of CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after acquiring an additional 636 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of CNB Financial by 16,173.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after acquiring an additional 2,426 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of CNB Financial by 35.5% in the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock worth $63,000 after acquiring an additional 679 shares during the last quarter. 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.