CNB Financial Corp (CCNE) Given Average Rating of “Strong Buy” by Analysts

CNB Financial Corp (NASDAQ:CCNE) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating. CNB Financial’s rating score has improved by 50% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a twelve-month consensus price target of $31.00 for the company and are expecting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also assigned CNB Financial an industry rank of 183 out of 256 based on the ratings given to related companies.

Several analysts have recently issued reports on CCNE shares. BidaskClub raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. ValuEngine lowered shares of CNB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of CNB Financial from a “hold” rating to a “sell” rating in a research report on Thursday, April 18th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $31.00 price target on shares of CNB Financial in a research report on Tuesday, April 16th.

NASDAQ CCNE opened at $26.67 on Tuesday. CNB Financial has a 12-month low of $21.43 and a 12-month high of $32.86. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $420.61 million, a PE ratio of 12.07 and a beta of 0.83.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Monday, April 15th. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. CNB Financial had a net margin of 22.37% and a return on equity of 13.85%. The company had revenue of $33.91 million for the quarter, compared to analyst estimates of $33.38 million. Research analysts predict that CNB Financial will post 2.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Investors of record on Saturday, June 1st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.68 annualized dividend and a yield of 2.55%. CNB Financial’s dividend payout ratio is currently 30.77%.

A number of large investors have recently modified their holdings of CCNE. Acadian Asset Management LLC purchased a new position in CNB Financial during the first quarter valued at approximately $33,000. BNP Paribas Arbitrage SA grew its stake in CNB Financial by 566.7% during the first quarter. BNP Paribas Arbitrage SA now owns 3,040 shares of the bank’s stock valued at $77,000 after acquiring an additional 2,584 shares in the last quarter. Citigroup Inc. grew its stake in CNB Financial by 13.8% during the fourth quarter. Citigroup Inc. now owns 4,425 shares of the bank’s stock valued at $102,000 after acquiring an additional 537 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its stake in CNB Financial by 428.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,843 shares of the bank’s stock valued at $111,000 after acquiring an additional 3,926 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in CNB Financial during the first quarter valued at approximately $184,000. 43.80% of the stock is owned by institutional investors.

CNB Financial Company Profile

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. The company 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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