CNB Financial (NASDAQ:CCNE) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

CNB Financial Corporation (NASDAQ:CCNE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $25.60 and traded as high as $29.34. CNB Financial shares last traded at $29.12, with a volume of 85,715 shares trading hands.

Analyst Upgrades and Downgrades

CCNE has been the subject of a number of analyst reports. Janney Montgomery Scott upgraded CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.75.

CNB Financial Stock Down 0.1%

The company has a market capitalization of $858.46 million, a price-to-earnings ratio of 11.98 and a beta of 0.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50 day moving average is $27.14 and its 200 day moving average is $25.60.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. The business had revenue of $87.16 million during the quarter, compared to analysts’ expectations of $73.10 million. Sell-side analysts anticipate that CNB Financial Corporation 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, December 12th. Shareholders of record on Friday, November 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. CNB Financial’s payout ratio is currently 29.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCNE. Geode Capital Management LLC lifted its holdings in shares of CNB Financial by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 792,749 shares of the bank’s stock worth $20,750,000 after purchasing an additional 34,520 shares during the period. PNC Financial Services Group Inc. raised its position in CNB Financial by 184.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 117,272 shares of the bank’s stock worth $3,069,000 after buying an additional 76,052 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in CNB Financial by 276.2% during the 4th quarter. State of Alaska Department of Revenue now owns 3,160 shares of the bank’s stock valued at $81,000 after acquiring an additional 2,320 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in shares of CNB Financial in the 4th quarter valued at $27,000. Finally, JPMorgan Chase & Co. increased its stake in shares of CNB Financial by 67.6% in the third quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock worth $6,272,000 after acquiring an additional 104,516 shares during the period. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

CNB Financial Company Profile

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.