StockNews.com upgraded shares of CNB Financial (NASDAQ:CCNE – Free Report) from a hold rating to a buy rating in a report released on Tuesday morning.
CNB Financial Trading Up 6.5 %
NASDAQ:CCNE opened at $25.35 on Tuesday. 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 $532.45 million, a price-to-earnings ratio of 10.65 and a beta of 0.69. CNB Financial has a 52 week low of $17.45 and a 52 week high of $26.87. The firm has a 50-day moving average price of $23.74 and a two-hundred day moving average price of $21.64.
CNB Financial (NASDAQ:CCNE – Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $94.21 million during the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. On average, equities analysts expect that CNB Financial will post 2.25 earnings per share for the current fiscal year.
CNB Financial Increases Dividend
Institutional Investors Weigh In On CNB Financial
Several large investors have recently modified their holdings of CCNE. American Century Companies Inc. increased its stake in shares of CNB Financial by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock worth $7,289,000 after purchasing an additional 51,080 shares during the last quarter. Unison Advisors LLC purchased a new stake in shares of CNB Financial during the 3rd quarter worth approximately $692,000. Dimensional Fund Advisors LP increased its stake in shares of CNB Financial by 2.7% during the 2nd 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of CNB Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock worth $21,463,000 after purchasing an additional 15,870 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of CNB Financial by 73.9% during the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock worth $604,000 after purchasing an additional 12,589 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.
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.
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