CNB Financial (NASDAQ:CCNE) Upgraded at BidaskClub

BidaskClub upgraded shares of CNB Financial (NASDAQ:CCNE) from a hold rating to a buy rating in a research report report published on Tuesday, BidAskClub reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded CNB Financial from a sell rating to a hold rating in a research note on Tuesday, June 18th. Boenning Scattergood restated an outperform rating on shares of CNB Financial in a research note on Thursday, June 20th.

CCNE opened at $26.74 on Tuesday. The business’s 50-day moving average is $27.17 and its two-hundred day moving average is $26.97. CNB Financial has a 1 year low of $21.43 and a 1 year high of $32.41. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $403.66 million, a PE ratio of 10.84 and a beta of 0.98.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Friday, July 19th. The bank reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.03. CNB Financial had a return on equity of 13.88% and a net margin of 22.18%. The company had revenue of $35.59 million for the quarter, compared to analyst estimates of $33.72 million. As a group, sell-side analysts expect that CNB Financial will post 2.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.54%. CNB Financial’s payout ratio is 30.77%.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of CNB Financial by 5.9% during the fourth quarter. Geode Capital Management LLC now owns 146,032 shares of the bank’s stock worth $3,351,000 after acquiring an additional 8,090 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CNB Financial by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 88,901 shares of the bank’s stock worth $2,040,000 after acquiring an additional 793 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of CNB Financial by 16.9% during the first quarter. Martingale Asset Management L P now owns 46,416 shares of the bank’s stock worth $1,174,000 after acquiring an additional 6,700 shares during the last quarter. Deutsche Bank AG grew its stake in shares of CNB Financial by 26.7% during the fourth quarter. Deutsche Bank AG now owns 49,840 shares of the bank’s stock worth $1,142,000 after acquiring an additional 10,513 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of CNB Financial by 1.6% during the first quarter. Royce & Associates LP now owns 711,224 shares of the bank’s stock worth $17,973,000 after acquiring an additional 11,131 shares during the last quarter. Institutional investors and hedge funds own 43.58% of the company’s stock.

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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