CNB Financial (NASDAQ:CCNE) Upgraded to “Buy” at StockNews.com

CNB Financial (NASDAQ:CCNE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Separately, Keefe, Bruyette & Woods lowered their target price on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Wednesday, April 17th.

CNB Financial Price Performance

CCNE stock opened at $19.83 on Tuesday. The stock has a market capitalization of $416.51 million, a PE ratio of 8.33 and a beta of 0.71. The company’s 50-day moving average is $19.53 and its 200-day moving average is $20.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. CNB Financial has a 1 year low of $17.21 and a 1 year high of $23.40.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Monday, April 15th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. CNB Financial had a net margin of 15.96% and a return on equity of 10.73%. The company had revenue of $54.18 million for the quarter, compared to analyst estimates of $55.00 million. Equities research analysts expect that CNB Financial will post 2.23 EPS for the current fiscal year.

Institutional Investors Weigh In On CNB Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCNE. GSA Capital Partners LLP increased its stake in CNB Financial by 78.3% in the 3rd quarter. GSA Capital Partners LLP now owns 75,336 shares of the bank’s stock valued at $1,364,000 after buying an additional 33,088 shares during the last quarter. Wellington Management Group LLP increased its stake in CNB Financial by 1.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,205,918 shares of the bank’s stock valued at $21,839,000 after buying an additional 12,300 shares during the last quarter. Vanguard Group Inc. increased its stake in CNB Financial by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,000,658 shares of the bank’s stock valued at $18,122,000 after buying an additional 5,800 shares during the last quarter. Beese Fulmer Investment Management Inc. purchased a new stake in CNB Financial in the 4th quarter valued at about $212,000. Finally, SG Americas Securities LLC increased its stake in CNB Financial by 26.5% in the 4th quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock valued at $252,000 after buying an additional 2,343 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Company Profile

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.