CNB Financial (NASDAQ:CCNE) Downgraded by Wall Street Zen to Hold

CNB Financial (NASDAQ:CCNE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

CCNE has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Thursday. Keefe, Bruyette & Woods boosted their price objective on shares of CNB Financial from $26.00 to $29.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. Finally, Janney Montgomery Scott upgraded CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Stock Down 0.1%

Shares of NASDAQ:CCNE opened at $24.98 on Friday. CNB Financial has a 52-week low of $19.32 and a 52-week high of $29.00. The company has a market capitalization of $736.31 million, a PE ratio of 10.50 and a beta of 0.76. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 0.94. The company has a fifty day moving average of $24.77 and a 200-day moving average of $23.86.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Thursday, October 30th. The bank reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. On average, equities analysts predict that CNB Financial will post 2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On CNB Financial

A number of hedge funds have recently added to or reduced their stakes in CCNE. Creative Planning raised its position in shares of CNB Financial by 10.1% during the third quarter. Creative Planning now owns 41,065 shares of the bank’s stock worth $994,000 after purchasing an additional 3,753 shares during the period. Raymond James Financial Inc. acquired a new position in CNB Financial during the third quarter worth $1,373,000. Man Group plc raised its holdings in CNB Financial by 63.2% during the third quarter. Man Group plc now owns 81,319 shares of the bank’s stock worth $1,968,000 after buying an additional 31,481 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of CNB Financial by 6.3% in the third quarter. Two Sigma Investments LP now owns 103,386 shares of the bank’s stock valued at $2,502,000 after buying an additional 6,132 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of CNB Financial by 59.8% during the third quarter. Bridgeway Capital Management LLC now owns 239,093 shares of the bank’s stock valued at $5,786,000 after buying an additional 89,487 shares during the last quarter. 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.