CNB Financial (NASDAQ:CCNE) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of CNB Financial (NASDAQ:CCNE) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $26.50 price objective on the bank’s stock.

A number of other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods lowered their target price on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th.

CNB Financial Stock Performance

Shares of CCNE opened at $20.94 on Monday. CNB Financial has a 1 year low of $17.74 and a 1 year high of $29.29. The stock has a market capitalization of $439.32 million, a P/E ratio of 8.80 and a beta of 0.53. 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 company’s fifty day moving average is $23.43 and its two-hundred day moving average is $24.89.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Monday, April 21st. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. On average, sell-side analysts predict that CNB Financial will post 2.04 earnings per share for the current year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 annualized dividend and a yield of 3.44%. CNB Financial’s dividend payout ratio is presently 30.25%.

Hedge Funds Weigh In On CNB Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in CNB Financial by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank’s stock valued at $25,139,000 after buying an additional 33,424 shares during the period. Geode Capital Management LLC increased its position in shares of CNB Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock worth $11,408,000 after acquiring an additional 9,359 shares in the last quarter. American Century Companies Inc. raised its stake in shares of CNB Financial by 13.3% in the 4th quarter. American Century Companies Inc. now owns 455,640 shares of the bank’s stock valued at $11,327,000 after acquiring an additional 53,661 shares during the period. State Street Corp raised its stake in shares of CNB Financial by 2.2% in the 3rd quarter. State Street Corp now owns 424,579 shares of the bank’s stock valued at $10,215,000 after acquiring an additional 8,942 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of CNB Financial by 35.8% during the 4th quarter. Ameriprise Financial Inc. now owns 298,954 shares of the bank’s stock valued at $7,432,000 after acquiring an additional 78,874 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

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.