Brokerages Set CNB Financial Corporation (NASDAQ:CCNE) PT at $34.33

Shares of CNB Financial Corporation (NASDAQ:CCNE) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $34.3333.

Several equities analysts have recently issued reports on CCNE shares. Weiss Ratings raised shares of CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Stephens boosted their price target on shares of CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Keefe, Bruyette & Woods boosted their price target on shares of CNB Financial from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. DA Davidson started coverage on shares of CNB Financial in a report on Friday, May 15th. They issued a “neutral” rating and a $34.00 price target for the company. Finally, Wall Street Zen lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th.

CNB Financial Price Performance

Shares of CCNE stock opened at $30.81 on Friday. CNB Financial has a 12-month low of $21.19 and a 12-month high of $31.80. The firm has a market capitalization of $912.90 million, a price-to-earnings ratio of 10.96 and a beta of 0.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $29.69 and a 200-day moving average of $27.98.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, April 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.06. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. The company had revenue of $83.32 million during the quarter, compared to analyst estimates of $79.35 million. On average, equities research analysts forecast that CNB Financial will post 3.53 earnings per share for the current year.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. CNB Financial’s dividend payout ratio is presently 27.05%.

Hedge Funds Weigh In On CNB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CCNE. Flagship Harbor Advisors LLC acquired a new position in CNB Financial in the 4th quarter worth $27,000. Peoples Financial Services CORP. acquired a new position in CNB Financial in the 3rd quarter worth $28,000. Founders Capital Management acquired a new position in CNB Financial in the 3rd quarter worth $31,000. Parallel Advisors LLC boosted its stake in CNB Financial by 847.2% in the 1st quarter. Parallel Advisors LLC now owns 1,364 shares of the bank’s stock worth $40,000 after purchasing an additional 1,220 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after purchasing an additional 636 shares during the period. 52.35% of the stock is owned by institutional investors and hedge funds.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.