CNB Financial (NASDAQ:CCNE) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

CNB Financial Corporation (NASDAQ:CCNE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.50 and traded as high as $27.96. CNB Financial shares last traded at $27.80, with a volume of 121,050 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a research note on Monday. Finally, Janney Montgomery Scott raised 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 assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, CNB Financial currently has an average rating of “Moderate Buy” and a consensus target price of $27.75.

CNB Financial Trading Up 0.7%

The firm has a market capitalization of $819.54 million, a price-to-earnings ratio of 13.97 and a beta of 0.74. The business’s fifty day moving average is $25.32 and its 200 day moving average is $24.50. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a net margin of 11.92% and a return on equity of 10.38%. The business had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. Equities analysts predict that CNB Financial Corporation will post 2.04 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 12th. Investors of record on Friday, November 28th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, November 28th. CNB Financial’s dividend payout ratio is 36.18%.

Institutional Trading of CNB Financial

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in CNB Financial by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,108,371 shares of the bank’s stock worth $24,661,000 after acquiring an additional 3,472 shares during the period. Nuveen LLC acquired a new position in shares of CNB Financial in the first quarter worth approximately $1,024,000. American Century Companies Inc. boosted its stake in shares of CNB Financial by 10.5% in the 1st quarter. American Century Companies Inc. now owns 503,651 shares of the bank’s stock valued at $11,206,000 after purchasing an additional 48,011 shares during the last quarter. Cresset Asset Management LLC bought a new stake in CNB Financial in the first quarter worth approximately $1,089,000. Finally, Hsbc Holdings PLC grew its holdings in CNB Financial by 34.8% in the first quarter. Hsbc Holdings PLC now owns 21,205 shares of the bank’s stock worth $473,000 after purchasing an additional 5,479 shares during the period. 52.35% of the stock is currently owned by institutional investors.

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.