CNB Financial (NASDAQ:CCNE) Sees Unusually-High Trading Volume – Time to Buy?

CNB Financial Co. (NASDAQ:CCNE) saw an uptick in trading volume on Friday . 26,774 shares were traded during mid-day trading, a decline of 43% from the previous session’s volume of 46,696 shares.The stock last traded at $25.21 and had previously closed at $25.07.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on CNB Financial from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

CNB Financial Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market capitalization of $531.99 million, a price-to-earnings ratio of 10.83 and a beta of 0.70. The business has a fifty day moving average price of $26.77 and a 200 day moving average price of $23.94.

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

CNB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 2.84%. CNB Financial’s payout ratio is 30.77%.

Institutional Investors Weigh In On CNB Financial

Large investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in CNB Financial during the 3rd quarter worth $181,000. Acadian Asset Management LLC boosted its position in shares of CNB Financial by 131.1% in the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank’s stock worth $188,000 after buying an additional 5,263 shares during the period. AQR Capital Management LLC grew its stake in shares of CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after buying an additional 568 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of CNB Financial during the 3rd quarter valued at about $221,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in CNB Financial during the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

About CNB Financial

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.