CNB Financial (NASDAQ:CCNE) Shares Pass Above 200 Day Moving Average – Here’s Why

CNB Financial Co. (NASDAQ:CCNE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $25.03 and traded as high as $25.52. CNB Financial shares last traded at $25.43, with a volume of 66,327 shares traded.

Analysts Set New Price Targets

CCNE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

CNB Financial Stock Up 1.6 %

The business’s fifty day moving average price is $25.64 and its two-hundred day moving average price is $25.03. The firm has a market cap of $533.78 million, a P/E ratio of 10.68 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. As a group, equities research analysts anticipate that CNB Financial Co. will post 1.72 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, November 29th. CNB Financial’s dividend payout ratio is 30.25%.

Institutional Investors Weigh In On CNB Financial

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after buying an additional 568 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of CNB Financial during the third quarter worth about $181,000. Unison Advisors LLC acquired a new position in CNB Financial during the third quarter worth $692,000. Creative Planning increased its position in shares of CNB Financial by 82.3% in the third quarter. Creative Planning now owns 18,440 shares of the bank’s stock valued at $444,000 after acquiring an additional 8,327 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of CNB Financial in the third quarter valued at $226,000. 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.