CNB Financial Co. (NASDAQ:CCNE) has earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. CNB Financial’s rating score has declined by 100% in the last three months as a result of a number of analysts’ upgrades and downgrades.
Brokers have set a 12-month consensus target price of $33.13 for the company and are anticipating that the company will post $0.51 EPS for the current quarter, according to Zacks. Zacks has also given CNB Financial an industry rank of 153 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, March 17th. Boenning Scattergood reissued a “buy” rating on shares of CNB Financial in a research note on Tuesday, April 17th. Keefe, Bruyette & Woods began coverage on shares of CNB Financial in a research note on Tuesday, April 10th. They set a “market perform” rating and a $35.00 target price on the stock. Zacks Investment Research downgraded shares of CNB Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, April 18th. Finally, ValuEngine raised shares of CNB Financial from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd.
In other CNB Financial news, Director Joel E. Peterson sold 2,000 shares of the business’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $30.21, for a total transaction of $60,420.00. Following the sale, the director now directly owns 7,751 shares of the company’s stock, valued at approximately $234,157.71. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 2,414 shares of company stock worth $72,624. Company insiders own 4.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CCNE. Wells Fargo & Company MN increased its stake in shares of CNB Financial by 53.0% in the third quarter. Wells Fargo & Company MN now owns 17,103 shares of the bank’s stock worth $468,000 after acquiring an additional 5,928 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CNB Financial by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 400,203 shares of the bank’s stock worth $10,934,000 after acquiring an additional 19,807 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of CNB Financial by 11.2% in the third quarter. California Public Employees Retirement System now owns 46,362 shares of the bank’s stock worth $1,267,000 after acquiring an additional 4,662 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of CNB Financial by 36.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 28,261 shares of the bank’s stock worth $742,000 after acquiring an additional 7,561 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new position in shares of CNB Financial in the fourth quarter worth $522,000. 43.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:CCNE opened at $29.68 on Wednesday. CNB Financial has a one year low of $20.91 and a one year high of $31.46. The firm has a market cap of $453.68 million, a PE ratio of 16.49 and a beta of 0.75. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.99 and a quick ratio of 0.99.
CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Monday, April 16th. The bank reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CNB Financial had a net margin of 18.33% and a return on equity of 11.29%. The company had revenue of $28.85 million for the quarter, compared to analyst estimates of $28.62 million. equities research analysts expect that CNB Financial will post 2.13 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, May 31st. CNB Financial’s dividend payout ratio (DPR) is currently 37.29%.
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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