CNB Financial (NASDAQ:CCNE) Sees Strong Trading Volume - Should You Buy?

CNB Financial Co. (NASDAQ:CCNE - Get Free Report) shares saw an uptick in trading volume on Wednesday . 56,031 shares were traded during mid-day trading, a decline of 24% from the previous session's volume of 73,859 shares.The stock last traded at $23.83 and had previously closed at $23.81.

Analyst Ratings Changes

A number of brokerages have commented on CCNE. StockNews.com downgraded CNB Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods cut their price target on CNB Financial from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Monday.

CNB Financial Stock Performance

The stock has a fifty day moving average price of $26.55 and a two-hundred day moving average price of $24.64. The company has a market cap of $501.55 million, a P/E ratio of 10.21 and a beta of 0.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The firm had revenue of $94.21 million for the quarter, compared to analysts' expectations of $55.40 million. On average, equities analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 3.01%. CNB Financial's payout ratio is 30.77%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CCNE. SG Americas Securities LLC bought a new position in shares of CNB Financial in the third quarter valued at $181,000. Acadian Asset Management LLC increased its holdings in shares of CNB Financial by 131.1% in the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank's stock valued at $188,000 after buying an additional 5,263 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank's stock valued at $215,000 after buying an additional 568 shares in the last quarter. PDT Partners LLC bought a new position in shares of CNB Financial in the third quarter valued at $221,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of CNB Financial in the third quarter valued at $226,000. 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.