CNB Financial (NASDAQ:CCNE) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

CNB Financial Corporation (NASDAQ:CCNE)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.36 and traded as high as $27.42. CNB Financial shares last traded at $26.97, with a volume of 81,406 shares changing hands.

Analyst Ratings Changes

CCNE has been the topic of several analyst reports. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. Finally, Stephens upped their target price on CNB Financial from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

CNB Financial Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $795.08 million, a P/E ratio of 11.10 and a beta of 0.71. The stock has a 50-day simple moving average of $27.92 and a 200-day simple moving average of $26.36.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Tuesday, January 27th. The bank reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. The firm had revenue of $87.16 million during 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%. Research analysts forecast that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.19 dividend. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, February 27th. CNB Financial’s dividend payout ratio (DPR) is 31.28%.

Institutional Trading of CNB Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC bought a new position in shares of CNB Financial in the 4th quarter valued at $27,000. Peoples Financial Services CORP. acquired a new stake in shares of CNB Financial during the 3rd quarter valued at $28,000. Founders Capital Management bought a new stake in CNB Financial during the 3rd quarter worth $31,000. Tower Research Capital LLC TRC increased its holdings in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after purchasing an additional 636 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in CNB Financial by 16,173.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock worth $59,000 after purchasing an additional 2,426 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

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.