CNB Financial (NASDAQ:CCNE) Stock: Insider Jeffrey Powell Purchases 560 Shares

CNB Financial Corporation (NASDAQ:CCNE) Director Jeffrey Powell purchased 560 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were acquired at an average price of $35.66 per share, with a total value of $19,969.60. Following the completion of the acquisition, the director owned 139,618 shares of the company’s stock, valued at approximately $4,978,777.88. The trade was a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CNB Financial Stock Performance

Shares of CCNE traded down $0.04 during mid-day trading on Friday, hitting $35.60. The company’s stock had a trading volume of 157,159 shares, compared to its average volume of 137,536. CNB Financial Corporation has a one year low of $23.78 and a one year high of $37.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $1.05 billion, a PE ratio of 9.37 and a beta of 0.61. The stock’s 50-day moving average is $34.61 and its two-hundred day moving average is $32.14.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Wednesday, October 21st. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $87.79 million for the quarter, compared to analyst estimates of $87.76 million. CNB Financial had a net margin of 23.26% and a return on equity of 13.15%. As a group, sell-side analysts anticipate that CNB Financial Corporation will post 3.58 EPS for the current year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, December 1st. CNB Financial’s dividend payout ratio (DPR) is currently 20.00%.

Analyst Ratings Changes

Several research firms recently weighed in on CCNE. Wall Street Zen cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Weiss Ratings downgraded shares of CNB Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, October 26th. Piper Sandler began coverage on shares of CNB Financial in a research report on Thursday, September 24th. They set an “overweight” rating and a $38.00 target price on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $37.00 target price (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. Finally, DA Davidson upped their target price on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Institutional Trading of CNB Financial

Several institutional investors have recently bought and sold shares of CCNE. Pinnacle Holdings LLC acquired a new stake in shares of CNB Financial during the 2nd quarter worth about $1,690,000. Empowered Funds LLC bought a new position in CNB Financial during the 2nd quarter valued at about $4,918,000. Globeflex Capital L P bought a new position in CNB Financial during the 2nd quarter valued at about $5,396,000. The Manufacturers Life Insurance Company bought a new position in CNB Financial during the 2nd quarter valued at about $7,667,000. Finally, Deutsche Bank AG acquired a new position in CNB Financial in the second quarter valued at about $1,049,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial News Roundup

These are some of the CCNE news items that stood out recently:

• Positive Sentiment: CEO Michael D. Peduzzi bought 500 shares for about $17,815, and Director Jeffrey S. Powell purchased 560 shares for about $19,970. CEO purchase filing Director purchase filing
• Negative Sentiment: Insiders reported selling a combined 36,330 shares for roughly $1.31 million. This includes Director Gary Olson’s 25,000-share sale, EVP Leanne D. Kassab’s 8,330-share sale, and Director Richard B. Seager’s 3,000-share sale. The sales reduced each seller’s holdings, with Olson’s and Kassab’s representing about one-quarter and over one-third of their respective positions. Insider trading report EVP sale filing Director sale filing
• Neutral Sentiment: The article also notes CNB Financial’s previously reported quarterly results modestly beat earnings expectations ($0.91 per share versus $0.88) and that its quarterly dividend is $0.19 per share. These provide fundamental and income context but are not new catalysts in the latest insider-trading disclosures.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.