CNB Financial (NASDAQ:CCNE) Sets New 1-Year High – Should You Buy?

CNB Financial Corporation (NASDAQ:CCNE) shares hit a new 52-week high during trading on Thursday . The company traded as high as $28.00 and last traded at $27.67, with a volume of 18834 shares trading hands. The stock had previously closed at $27.61.

Analyst Ratings Changes

A number of research firms recently weighed in on CCNE. Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Monday. Finally, Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 16th. One equities research 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 company. According to MarketBeat.com, CNB Financial currently has a consensus rating of “Moderate Buy” and an average price target of $27.75.

CNB Financial Stock Performance

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 firm has a 50 day moving average price of $25.05 and a two-hundred day moving average price of $24.34. The company has a market capitalization of $821.90 million, a P/E ratio of 14.01 and a beta of 0.74.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. CNB Financial had a return on equity of 10.38% and a net margin of 11.92%.The business had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. On average, research analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. CNB Financial’s dividend payout ratio (DPR) is presently 36.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CCNE. Wellington Management Group LLP increased its stake in shares of CNB Financial by 116.1% in the third quarter. Wellington Management Group LLP now owns 1,876,033 shares of the bank’s stock valued at $45,400,000 after buying an additional 1,007,751 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of CNB Financial by 38.3% in the third quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after acquiring an additional 435,300 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CNB Financial by 37.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,480,034 shares of the bank’s stock worth $35,817,000 after acquiring an additional 406,167 shares during the last quarter. Davis Asset Management L.P. lifted its position in shares of CNB Financial by 27.7% during the second quarter. Davis Asset Management L.P. now owns 894,033 shares of the bank’s stock worth $20,438,000 after purchasing an additional 194,033 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of CNB Financial by 11.4% during the third quarter. American Century Companies Inc. now owns 605,374 shares of the bank’s stock valued at $14,650,000 after purchasing an additional 61,898 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

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.