CNB Financial (NASDAQ:CCNE) Stock Crosses Above Two Hundred Day Moving Average of $21.28

CNB Financial Co. (NASDAQ:CCNE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.28 and traded as high as $24.06. CNB Financial shares last traded at $22.86, with a volume of 53,657 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st.

CNB Financial Stock Performance

The company has a market capitalization of $480.15 million, a P/E ratio of 9.61 and a beta of 0.69. 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 business’s fifty day simple moving average is $23.81 and its 200-day simple moving average is $21.28.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. The firm had revenue of $89.52 million for the quarter, compared to analysts’ expectations of $55.30 million. As a group, equities analysts anticipate that CNB Financial Co. will post 2.25 earnings per share for the current fiscal year.

CNB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.18 per share. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio is currently 30.25%.

Institutional Investors Weigh In On CNB Financial

Several large investors have recently bought and sold shares of CCNE. BNP Paribas Financial Markets increased its holdings in shares of CNB Financial by 21.0% in the 4th quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock worth $385,000 after buying an additional 2,957 shares during the last quarter. Dimensional Fund Advisors LP raised its position in CNB Financial by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 871,822 shares of the bank’s stock valued at $19,695,000 after purchasing an additional 42,908 shares during the period. Petiole USA ltd lifted its stake in shares of CNB Financial by 148.3% in the 4th quarter. Petiole USA ltd now owns 168,241 shares of the bank’s stock valued at $3,801,000 after purchasing an additional 100,471 shares during the last quarter. BHZ Capital Management LP boosted its holdings in shares of CNB Financial by 1.4% in the 4th quarter. BHZ Capital Management LP now owns 57,904 shares of the bank’s stock worth $1,308,000 after purchasing an additional 791 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of CNB Financial by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after purchasing an additional 2,599 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.