CNB Financial (NASDAQ:CCNE) Upgraded to “Buy” by StockNews.com

CNB Financial (NASDAQ:CCNE) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

CNB Financial Stock Performance

NASDAQ CCNE traded up $1.54 on Tuesday, reaching $25.35. The stock had a trading volume of 29,671 shares, compared to its average volume of 45,292. The stock has a market cap of $532.45 million, a P/E ratio of 10.65 and a beta of 0.69. CNB Financial has a 12-month low of $17.45 and a 12-month high of $26.87. The business’s 50-day moving average price is $23.74 and its 200 day moving average price is $21.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. As a group, equities analysts expect that CNB Financial will post 2.25 earnings per share for the current year.

Institutional Trading of CNB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCNE. Unison Advisors LLC purchased a new position in CNB Financial during the 3rd quarter worth $692,000. Dimensional Fund Advisors LP raised its holdings in CNB Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock worth $19,280,000 after purchasing an additional 24,666 shares in the last quarter. BNP Paribas Financial Markets lifted its position in CNB Financial by 73.9% in the first quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock valued at $604,000 after purchasing an additional 12,589 shares during the period. Acadian Asset Management LLC acquired a new stake in CNB Financial in the first quarter valued at about $81,000. Finally, American Century Companies Inc. boosted its holdings in CNB Financial by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after purchasing an additional 51,080 shares in the last quarter. 52.35% of the stock is owned by hedge funds and other 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.