CNB Financial (NASDAQ:CCNE) Raised to Buy at Wall Street Zen

CNB Financial (NASDAQ:CCNE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other analysts have also issued research reports about the company. Stephens boosted their price target on CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 29th. One research 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’s stock. According to data from MarketBeat, CNB Financial has an average rating of “Moderate Buy” and a consensus price target of $32.00.

CNB Financial Stock Performance

Shares of NASDAQ CCNE opened at $29.98 on Friday. CNB Financial has a 12-month low of $19.32 and a 12-month high of $30.84. The firm has a market capitalization of $883.81 million, a price-to-earnings ratio of 12.34 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $27.60 and a 200 day moving average of $25.96.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.10. The business had revenue of $87.16 million for the quarter, compared to analysts’ expectations of $73.10 million. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. On average, research analysts anticipate that CNB Financial will post 2.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CCNE. Flagship Harbor Advisors LLC purchased a new stake in CNB Financial during the fourth quarter valued at $27,000. Peoples Financial Services CORP. bought a new stake in shares of CNB Financial in the 3rd quarter worth about $28,000. Founders Capital Management purchased a new stake in shares of CNB Financial during the 3rd quarter valued at about $31,000. Tower Research Capital LLC TRC lifted its holdings in shares of CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after acquiring an additional 636 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of CNB Financial by 16,173.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after acquiring an additional 2,426 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

About CNB Financial

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.