CNB Financial Corporation (NASDAQ:CCNE) Receives $36.00 Consensus Price Target from Analysts

CNB Financial Corporation (NASDAQ:CCNE) has received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $36.75.

CCNE has been the topic of a number of research reports. DA Davidson increased their price target on CNB Financial from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Raymond James Financial began coverage on CNB Financial in a research report on Wednesday. They set an “outperform” rating and a $39.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of CNB Financial in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 target price (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. Finally, Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pinnacle Holdings LLC bought a new stake in CNB Financial during the 2nd quarter valued at $1,690,000. Globeflex Capital L P bought a new position in shares of CNB Financial in the second quarter worth $5,396,000. Sei Investments Co. bought a new position in shares of CNB Financial in the first quarter worth $835,000. Dimensional Fund Advisors LP grew its stake in shares of CNB Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank’s stock worth $43,613,000 after purchasing an additional 27,236 shares in the last quarter. Finally, WNY Asset Management LLC acquired a new position in shares of CNB Financial during the second quarter valued at $835,000. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Price Performance

Shares of NASDAQ:CCNE opened at $34.01 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 10.94 and a beta of 0.63. CNB Financial has a fifty-two week low of $22.80 and a fifty-two week high of $36.17. The firm has a 50-day simple moving average of $34.22 and a 200 day simple moving average of $31.40. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.07.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Thursday, July 23rd. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. CNB Financial had a net margin of 19.37% and a return on equity of 12.85%. The firm had revenue of $87.65 million for the quarter, compared to analysts’ expectations of $85.87 million. On average, sell-side analysts anticipate that CNB Financial will post 3.56 EPS for the current year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. CNB Financial’s dividend payout ratio (DPR) is 24.44%.

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.