CNB Financial (NASDAQ:CCNE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of CNB Financial (NASDAQ:CCNE – Get Rating) in a research report report published on Thursday. The firm issued a hold rating on the bank’s stock.

CNB Financial Price Performance

Shares of NASDAQ CCNE opened at $19.65 on Thursday. The firm has a market cap of $415.01 million, a P/E ratio of 5.97 and a beta of 0.85. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.22. CNB Financial has a 1-year low of $19.00 and a 1-year high of $28.50. The business’s 50 day moving average is $23.48 and its 200-day moving average is $24.36.

CNB Financial (NASDAQ:CCNE – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The bank reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The company had revenue of $59.84 million for the quarter, compared to analyst estimates of $59.80 million. CNB Financial had a return on equity of 15.18% and a net margin of 25.43%. Equities research analysts predict that CNB Financial will post 3.06 earnings per share for the current year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Tuesday, February 28th. CNB Financial’s dividend payout ratio is currently 21.28%.

Insider Buying and Selling

In related news, CEO Michael D. Peduzzi purchased 1,372 shares of CNB Financial stock in a transaction that occurred on Wednesday, January 25th. The shares were acquired at an average price of $23.30 per share, with a total value of $31,967.60. Following the completion of the transaction, the chief executive officer now directly owns 17,345 shares of the company’s stock, valued at approximately $404,138.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 4,356 shares of company stock valued at $95,767 over the last 90 days. 3.09% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CNB Financial

Large investors have recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of CNB Financial by 58.7% in the 3rd quarter. Barclays PLC now owns 1,282 shares of the bank’s stock valued at $30,000 after purchasing an additional 474 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of CNB Financial in the 4th quarter valued at $48,000. Advisor Group Holdings Inc. boosted its holdings in shares of CNB Financial by 18,683.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,254 shares of the bank’s stock valued at $53,000 after purchasing an additional 2,242 shares in the last quarter. Amalgamated Bank lifted its stake in shares of CNB Financial by 30.0% in the 4th quarter. Amalgamated Bank now owns 2,653 shares of the bank’s stock valued at $63,000 after acquiring an additional 612 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of CNB Financial by 41.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,703 shares of the bank’s stock valued at $88,000 after acquiring an additional 1,076 shares during the last quarter. Institutional investors and hedge funds own 52.68% of the company’s stock.

CNB Financial Company Profile

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CNB Financial Corp. is a financial holding company, which engages in the provision of banking and financial solutions. It offers deposit accounts, private banking, real estate, commercial, industrial, residential and consumer loans, lines of credit, credit cards, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.