CNB Financial (NASDAQ:CCNE) Price Target Raised to $30.00 at Keefe, Bruyette & Woods

CNB Financial (NASDAQ:CCNE) had its target price increased by Keefe, Bruyette & Woods from $27.00 to $30.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Separately, StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

CNB Financial Trading Up 0.1 %

Shares of CCNE opened at $27.88 on Wednesday. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $585.20 million, a price-to-earnings ratio of 11.91 and a beta of 0.70. The stock’s 50-day moving average price is $25.81 and its 200 day moving average price is $23.33.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. As a group, research analysts predict that CNB Financial will post 2.3 earnings per share for the current year.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, November 29th. CNB Financial’s payout ratio is currently 30.77%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCNE. SG Americas Securities LLC acquired a new position in shares of CNB Financial in the 3rd quarter worth approximately $181,000. Acadian Asset Management LLC boosted its holdings in shares of CNB Financial by 131.1% in the 2nd quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank’s stock worth $188,000 after acquiring an additional 5,263 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after acquiring an additional 568 shares in the last quarter. PDT Partners LLC acquired a new position in shares of CNB Financial in the 3rd quarter worth approximately $221,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in CNB Financial during the 3rd quarter worth $226,000. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Company Profile

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.