CNB Financial (NASDAQ:CCNE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of CNB Financial Co. (NASDAQ:CCNE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.56 and traded as high as $25.05. CNB Financial shares last traded at $25.03, with a volume of 36,466 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

CNB Financial Stock Up 1.0 %

The business’s 50-day moving average is $23.65 and its 200-day moving average is $21.56. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $525.73 million, a price-to-earnings ratio of 10.52 and a beta of 0.69.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. The firm had revenue of $89.52 million for the quarter, compared to analyst estimates of $55.30 million. On average, equities analysts predict that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.88%. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s dividend payout ratio is currently 30.25%.

Institutional Investors Weigh In On CNB Financial

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of CNB Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock valued at $21,463,000 after purchasing an additional 15,870 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after purchasing an additional 24,666 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of 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 during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of CNB Financial by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock valued at $2,698,000 after purchasing an additional 4,973 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of CNB Financial by 8.1% in the 1st quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock valued at $1,240,000 after purchasing an additional 4,550 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

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.