CNB Financial (NASDAQ:CCNE) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
Other research analysts have also issued research reports about the company. Zacks Investment Research raised CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, October 24th. Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial in a research report on Monday, October 22nd. Finally, BidaskClub raised CNB Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, November 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. CNB Financial has a consensus rating of “Hold” and a consensus price target of $31.17.
CCNE stock opened at $25.72 on Tuesday. CNB Financial has a twelve month low of $21.43 and a twelve month high of $32.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $388.50 million, a P/E ratio of 11.58 and a beta of 0.90.
CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, January 28th. The bank reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.01. CNB Financial had a return on equity of 13.50% and a net margin of 22.10%. The company had revenue of $32.55 million during the quarter, compared to analyst estimates of $33.50 million. Equities research analysts forecast that CNB Financial will post 2.53 earnings per share for the current fiscal year.
In other CNB Financial news, Director Francis X. Straub III bought 4,000 shares of CNB Financial stock in a transaction on Friday, December 21st. The stock was acquired at an average price of $22.50 per share, with a total value of $90,000.00. Following the acquisition, the director now owns 14,090 shares in the company, valued at $317,025. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders acquired 8,055 shares of company stock valued at $195,354. Corporate insiders own 4.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc increased its holdings in shares of CNB Financial by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 589,205 shares of the bank’s stock worth $17,005,000 after purchasing an additional 3,220 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of CNB Financial by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 589,205 shares of the bank’s stock worth $17,005,000 after purchasing an additional 3,220 shares in the last quarter. Maltese Capital Management LLC increased its holdings in shares of CNB Financial by 130.9% in the 3rd quarter. Maltese Capital Management LLC now owns 50,000 shares of the bank’s stock worth $1,443,000 after purchasing an additional 28,350 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of CNB Financial by 57.9% in the 3rd quarter. MetLife Investment Advisors LLC now owns 10,708 shares of the bank’s stock worth $309,000 after purchasing an additional 3,926 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of CNB Financial by 7.9% in the 3rd quarter. Renaissance Technologies LLC now owns 269,073 shares of the bank’s stock worth $7,765,000 after purchasing an additional 19,773 shares in the last quarter. 43.90% of the stock is owned by institutional investors and hedge funds.
About CNB Financial
CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. It accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.
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