CNB Financial Corporation (NASDAQ:CCNE) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of CNB Financial Corporation (NASDAQ:CCNE) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $36.00.

CCNE has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday, June 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 price objective (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. DA Davidson raised their target price on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Wall Street Zen lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday.

CNB Financial Price Performance

NASDAQ:CCNE opened at $33.84 on Friday. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.88 and a beta of 0.63. CNB Financial has a 52-week low of $22.80 and a 52-week high of $36.17. The stock has a fifty day moving average of $34.04 and a 200 day moving average of $31.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $87.65 million during the quarter, compared to analysts’ expectations of $85.87 million. CNB Financial had a return on equity of 12.85% and a net margin of 19.37%. On average, research analysts expect that CNB Financial will post 3.58 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. CNB Financial’s dividend payout ratio is presently 24.44%.

Institutional Trading of CNB Financial

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in CNB Financial by 201.7% in the first quarter. AQR Capital Management LLC now owns 43,890 shares of the bank’s stock valued at $977,000 after acquiring an additional 29,343 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CNB Financial by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock worth $273,000 after purchasing an additional 546 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of CNB Financial by 7.4% in the 1st quarter. Empowered Funds LLC now owns 77,776 shares of the bank’s stock worth $1,731,000 after purchasing an additional 5,370 shares in the last quarter. Jane Street Group LLC bought a new position in shares of CNB Financial during the 1st quarter valued at about $714,000. Finally, Rhumbline Advisers increased its position in shares of CNB Financial by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 31,828 shares of the bank’s stock valued at $728,000 after purchasing an additional 1,590 shares during the last quarter. 52.35% of the stock is 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.