CNB Financial (NASDAQ:CCNE) Upgraded by StockNews.com to Buy

CNB Financial (NASDAQ:CCNEGet Free Report) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Wednesday, April 17th.

Get Our Latest Analysis on CCNE

CNB Financial Trading Up 2.0 %

NASDAQ CCNE opened at $19.97 on Thursday. The company has a market capitalization of $419.37 million, a PE ratio of 8.39 and a beta of 0.71. The company has a fifty day moving average of $19.58 and a 200 day moving average of $20.19. CNB Financial has a 1 year low of $17.45 and a 1 year high of $23.40. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNEGet Free Report) last posted its earnings results on Monday, April 15th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $54.18 million during the quarter, compared to the consensus estimate of $55.00 million. CNB Financial had a net margin of 15.96% and a return on equity of 10.73%. Research analysts forecast that CNB Financial will post 2.23 earnings per share for the current year.

Institutional Trading of CNB Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BHZ Capital Management LP increased its stake in shares of CNB Financial by 1.4% during the fourth quarter. BHZ Capital Management LP now owns 57,904 shares of the bank’s stock worth $1,308,000 after purchasing an additional 791 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of CNB Financial by 14.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after purchasing an additional 1,006 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of CNB Financial by 26.5% during the fourth quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock worth $252,000 after purchasing an additional 2,343 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after purchasing an additional 2,599 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of CNB Financial by 21.0% during the fourth quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock worth $385,000 after purchasing an additional 2,957 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

About CNB Financial

(Get Free Report)

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.

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