Keefe, Bruyette & Woods Cuts CNB Financial (NASDAQ:CCNE) Price Target to $25.00

CNB Financial (NASDAQ:CCNE) had its price target reduced by equities research analysts at Keefe, Bruyette & Woods from $27.00 to $25.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 21.15% from the stock’s previous close.

A number of other research firms have also issued reports on CCNE. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Stephens began coverage on shares of CNB Financial in a research note on Monday. They set an “overweight” rating and a $26.50 price target on the stock.

CNB Financial Price Performance

Shares of CCNE traded down $0.22 during trading hours on Wednesday, hitting $20.64. 21,829 shares of the stock were exchanged, compared to its average volume of 57,840. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29. The company has a market cap of $432.92 million, a price-to-earnings ratio of 8.67 and a beta of 0.53. The stock’s 50-day moving average price is $23.32 and its two-hundred day moving average price is $24.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Monday, April 14th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. The firm had revenue of $57.55 million during the quarter, compared to analysts’ expectations of $54.05 million. Research analysts expect that CNB Financial will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CNB Financial by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,725 shares of the bank’s stock valued at $291,000 after buying an additional 437 shares during the period. Rhumbline Advisers raised its position in CNB Financial by 1.8% in the fourth quarter. Rhumbline Advisers now owns 31,557 shares of the bank’s stock worth $784,000 after acquiring an additional 565 shares in the last quarter. SG Americas Securities LLC lifted its holdings in CNB Financial by 17.4% in the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank’s stock valued at $219,000 after acquiring an additional 1,305 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of CNB Financial by 618.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank’s stock worth $52,000 after purchasing an additional 1,807 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of CNB Financial by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 16,299 shares of the bank’s stock worth $405,000 after purchasing an additional 1,997 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.