CNB Financial Corp (NASDAQ:CCNE) has been given an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation. CNB Financial’s rating score has improved by 50% from 90 days ago as a result of a number of analysts’ ratings changes.
Brokerages have set a 1 year consensus price objective 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 given CNB Financial an industry rank of 185 out of 256 based on the ratings given to related companies.
Several research firms have weighed in on CCNE. BidaskClub upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Zacks Investment Research upgraded shares of CNB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. ValuEngine upgraded shares of CNB Financial from a “sell” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Boenning Scattergood reiterated a “buy” rating and set a $31.00 price target on shares of CNB Financial in a research report on Tuesday, April 16th.
Hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC purchased a new stake in shares of CNB Financial during the 1st quarter worth approximately $33,000. BNP Paribas Arbitrage SA grew its holdings in CNB Financial by 566.7% in the first quarter. BNP Paribas Arbitrage SA now owns 3,040 shares of the bank’s stock valued at $77,000 after purchasing an additional 2,584 shares during the period. Citigroup Inc. grew its holdings in CNB Financial by 13.8% in the fourth quarter. Citigroup Inc. now owns 4,425 shares of the bank’s stock valued at $102,000 after purchasing an additional 537 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in CNB Financial by 428.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,843 shares of the bank’s stock valued at $111,000 after purchasing an additional 3,926 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in CNB Financial in the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 43.89% of the company’s stock.
CCNE traded up $0.10 during trading on Wednesday, hitting $26.41. 26,851 shares of the company’s stock were exchanged, compared to its average volume of 17,422. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.19. CNB Financial has a fifty-two week low of $21.43 and a fifty-two week high of $32.86. The company has a market cap of $389.98 million, a price-to-earnings ratio of 11.95 and a beta of 0.91.
CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Monday, April 15th. The bank reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $33.91 million for the quarter, compared to the consensus estimate of $33.38 million. As a group, equities analysts forecast that CNB Financial will post 2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, May 30th. CNB Financial’s payout ratio is currently 30.77%.
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. 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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