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

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

CNB Financial Trading Up 0.5 %

CCNE opened at $25.47 on Tuesday. The stock has a market capitalization of $534.97 million, a price-to-earnings ratio of 10.70 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial has a twelve month low of $17.45 and a twelve month high of $26.87. The company has a 50-day simple moving average of $23.80 and a 200 day simple moving average of $21.69.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $94.21 million during 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%. Analysts predict that CNB Financial will post 2.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Unison Advisors LLC acquired a new position in shares of CNB Financial in the third quarter valued at approximately $692,000. Dimensional Fund Advisors LP increased its stake in shares of CNB Financial by 2.7% in the second quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after buying an additional 24,666 shares during the period. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 12,589 shares during the period. Acadian Asset Management LLC acquired a new position in shares of CNB Financial in the first quarter valued at approximately $81,000. Finally, American Century Companies Inc. increased its stake in shares of CNB Financial by 16.7% in the second quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after buying an additional 51,080 shares during the period. 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.