CNB Financial (NASDAQ:CCNE) Stock Rating Upgraded by 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 report issued on Saturday.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 15th. Janney Montgomery Scott upgraded shares of CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. One 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. Based on data from MarketBeat, CNB Financial presently has an average rating of “Moderate Buy” and an average price target of $27.75.

CNB Financial Price Performance

NASDAQ:CCNE opened at $27.37 on Friday. The firm has a market capitalization of $806.87 million, a price-to-earnings ratio of 13.75 and a beta of 0.74. 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 business has a 50 day simple moving average of $25.39 and a 200-day simple moving average of $24.58. CNB Financial has a 1 year low of $19.32 and a 1 year high of $28.04.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $77.70 million for the quarter, compared to the consensus estimate of $68.50 million. CNB Financial had a return on equity of 10.38% and a net margin of 11.92%. Equities analysts forecast that CNB Financial will post 2.04 EPS for the current year.

Institutional Investors Weigh In On CNB Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Peoples Financial Services CORP. purchased a new stake in CNB Financial in the 3rd quarter valued at about $28,000. Founders Capital Management bought a new stake in shares of CNB Financial during the third quarter valued at approximately $31,000. Tower Research Capital LLC TRC boosted its holdings in shares of CNB Financial by 46.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares during the period. Russell Investments Group Ltd. grew its stake in CNB Financial by 16,173.3% in the third 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. Finally, Legal & General Group Plc increased its holdings in CNB Financial by 35.5% during the 3rd quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock worth $63,000 after purchasing an additional 679 shares during the period. Institutional investors own 52.35% of the company’s stock.

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.