CNB Financial (NASDAQ:CCNE) Stock Price Passes Above 200-Day Moving Average - Here's Why

CNB Financial Co. (NASDAQ:CCNE - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.56 and traded as high as $25.05. CNB Financial shares last traded at $25.03, with a volume of 36,466 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut CNB Financial from a "buy" rating to a "hold" rating in a report on Wednesday, August 21st.

CNB Financial Trading Down 1.2 %

The business has a fifty day simple moving average of $23.70 and a 200 day simple moving average of $21.59. The stock has a market cap of $519.22 million, a price-to-earnings ratio of 10.39 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its earnings results on Thursday, July 18th. The bank reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The firm had revenue of $89.52 million for the quarter, compared to analysts' expectations of $55.30 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. As a group, equities analysts anticipate that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Friday, August 30th. This is a boost from CNB Financial's previous quarterly dividend of $0.18. CNB Financial's dividend payout ratio is 30.25%.

Institutional Investors Weigh In On CNB Financial

Large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new stake in shares of CNB Financial during the first quarter worth $81,000. SG Americas Securities LLC acquired a new stake in shares of CNB Financial during the third quarter worth $181,000. PNC Financial Services Group Inc. boosted its holdings in shares of CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank's stock worth $200,000 after purchasing an additional 2,599 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of CNB Financial by 5.7% during the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank's stock worth $215,000 after purchasing an additional 568 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of CNB Financial by 82.3% during the third quarter. Creative Planning now owns 18,440 shares of the bank's stock worth $444,000 after purchasing an additional 8,327 shares during the last quarter. Institutional investors and hedge funds 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.