CNB Financial (NASDAQ:CCNE) Hits New 1-Year High – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE)’s stock price hit a new 52-week high on Monday . The company traded as high as $33.10 and last traded at $32.9150, with a volume of 243700 shares. The stock had previously closed at $32.80.

Analyst Ratings Changes

A number of analysts have weighed in on CCNE shares. Keefe, Bruyette & Woods increased their target price on shares of CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. DA Davidson started coverage on shares of CNB Financial in a research report on Friday, May 15th. They set a “neutral” rating and a $34.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, CNB Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

CNB Financial Stock Down 0.5%

The firm has a market capitalization of $967.39 million, a PE ratio of 11.62 and a beta of 0.64. The business’s 50-day moving average price is $30.71 and its 200-day moving average price is $28.71. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13.

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

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, June 1st. CNB Financial’s dividend payout ratio is presently 27.05%.

Institutional Trading of CNB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of CNB Financial by 38.2% in the fourth quarter. Wellington Management Group LLP now owns 2,592,950 shares of the bank’s stock worth $67,858,000 after buying an additional 716,917 shares during the last quarter. Vanguard Group Inc. boosted its holdings in CNB Financial by 38.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock valued at $38,058,000 after purchasing an additional 435,300 shares during the period. Dimensional Fund Advisors LP increased its holdings in CNB Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank’s stock valued at $43,613,000 after buying an additional 27,236 shares during the period. Geode Capital Management LLC increased its holdings in CNB Financial by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 792,749 shares of the bank’s stock valued at $20,750,000 after buying an additional 34,520 shares during the period. Finally, State Street Corp increased its holdings in CNB Financial by 2.4% in the 4th quarter. State Street Corp now owns 612,507 shares of the bank’s stock valued at $16,029,000 after buying an additional 14,219 shares during the period. 52.35% of the stock is currently 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.