CNB Financial (NASDAQ:CCNE) Upgraded at StockNews.com

CNB Financial (NASDAQ:CCNE) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Separately, Keefe, Bruyette & Woods reduced their target price on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Monday, January 13th.

CNB Financial Stock Performance

NASDAQ CCNE opened at $26.21 on Thursday. The company’s fifty day moving average is $25.52 and its two-hundred day moving average is $25.06. CNB Financial has a 52-week low of $17.74 and a 52-week high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market capitalization of $550.15 million, a price-to-earnings ratio of 11.01 and a beta of 0.71.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. Equities research analysts forecast that CNB Financial will post 1.72 EPS for the current year.

Institutional Trading of CNB Financial

A number of large investors have recently bought and sold shares of CCNE. Geode Capital Management LLC lifted its holdings in shares of CNB Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock valued at $11,408,000 after acquiring an additional 9,359 shares during the period. State Street Corp increased its position in shares of CNB Financial by 2.2% during the 3rd quarter. State Street Corp now owns 424,579 shares of the bank’s stock worth $10,215,000 after purchasing an additional 8,942 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in CNB Financial by 11.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank’s stock valued at $3,749,000 after purchasing an additional 15,714 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in CNB Financial by 19.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank’s stock valued at $3,616,000 after buying an additional 24,883 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in CNB Financial by 0.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock worth $3,460,000 after buying an additional 390 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.