CNB Financial (NASDAQ:CCNE) Price Target Raised to $36.00

CNB Financial (NASDAQ:CCNE) had its price objective raised by stock analysts at DA Davidson from $34.00 to $36.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective points to a potential upside of 4.48% from the stock’s current price.

Several other research analysts have also commented on CCNE. Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. 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 research report on Friday. Finally, Wall Street Zen upgraded CNB Financial from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, CNB Financial currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

CNB Financial Stock Performance

Shares of CCNE traded down $0.21 during trading hours on Monday, hitting $34.45. The company’s stock had a trading volume of 15,688 shares, compared to its average volume of 158,701. The business has a 50 day simple moving average of $32.49 and a two-hundred day simple moving average of $30.13. CNB Financial has a 52-week low of $21.63 and a 52-week high of $35.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 11.06 and a beta of 0.63.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. CNB Financial had a return on equity of 13.02% and a net margin of 19.37%.The business had revenue of $88.52 million for the quarter, compared to analysts’ expectations of $85.87 million. On average, equities analysts expect that CNB Financial will post 3.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CNB Financial

Several large investors have recently bought and sold shares of CCNE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 worth $273,000 after acquiring an additional 546 shares during the period. Tower Research Capital LLC TRC lifted its holdings in CNB Financial by 46.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares in the last quarter. Legal & General Group Plc grew its holdings in CNB Financial by 35.5% during the 3rd quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock valued at $63,000 after buying an additional 679 shares in the last quarter. First Trust Advisors LP grew its stake in CNB Financial by 6.1% during the second quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock valued at $306,000 after acquiring an additional 765 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of CNB Financial by 6.9% in the third quarter. Victory Capital Management Inc. now owns 12,504 shares of the bank’s stock worth $303,000 after purchasing an additional 803 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

About CNB Financial

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.