Recent Analysts’ Ratings Changes for CNB Financial (CCNE)

CNB Financial (NASDAQ: CCNE) has recently received a number of price target changes and ratings updates:

  • 1/5/2019 – CNB Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 1/4/2019 – CNB Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 12/24/2018 – CNB Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 12/24/2018 – CNB Financial was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “CNB Financial Corporation is a bank holding company headquartered in Clearfield, PA. It conducts business principally through County National Bank whose market area includes twenty convenient office locations in Pennsylvania. “
  • 12/18/2018 – CNB Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 12/11/2018 – CNB Financial was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 11/13/2018 – CNB Financial was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

CCNE stock traded down $0.18 during midday trading on Friday, reaching $24.25. The stock had a trading volume of 1,771 shares, compared to its average volume of 24,535. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $373.26 million, a P/E ratio of 13.70 and a beta of 0.90. CNB Financial Corp has a 52-week low of $21.43 and a 52-week high of $32.86.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Friday, October 19th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $32.81 million for the quarter, compared to analyst estimates of $31.80 million. CNB Financial had a return on equity of 12.58% and a net margin of 19.33%. On average, equities analysts forecast that CNB Financial Corp will post 2.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Shareholders of record on Friday, November 30th were issued a $0.17 dividend. The ex-dividend date was Thursday, November 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.80%. CNB Financial’s payout ratio is currently 38.42%.

In other news, Director Francis X. Straub III acquired 4,000 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were bought at an average price of $26.00 per share, for a total transaction of $104,000.00. Following the acquisition, the director now owns 10,090 shares of the company’s stock, valued at approximately $262,340. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 8,055 shares of company stock worth $195,354 in the last 90 days. 4.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CCNE. Citadel Advisors LLC purchased a new position in shares of CNB Financial during the 3rd quarter worth $230,000. MetLife Investment Advisors LLC raised its holdings in shares of CNB Financial by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 10,708 shares of the bank’s stock worth $309,000 after acquiring an additional 3,926 shares during the period. First Trust Advisors LP raised its holdings in shares of CNB Financial by 19.7% during the 2nd quarter. First Trust Advisors LP now owns 37,889 shares of the bank’s stock worth $1,139,000 after acquiring an additional 6,233 shares during the period. Wells Fargo & Company MN raised its holdings in shares of CNB Financial by 33.9% during the 3rd quarter. Wells Fargo & Company MN now owns 47,667 shares of the bank’s stock worth $1,376,000 after acquiring an additional 12,057 shares during the period. Finally, Maltese Capital Management LLC raised its holdings in shares of CNB Financial by 130.9% during the 3rd quarter. Maltese Capital Management LLC now owns 50,000 shares of the bank’s stock worth $1,443,000 after acquiring an additional 28,350 shares during the period. Institutional investors and hedge funds own 43.90% of the company’s stock.

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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