CNB Financial (NASDAQ:CCNE - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday.
CNB Financial Stock Performance
Shares of CCNE traded up $0.22 on Wednesday, reaching $25.80. 32,812 shares of the stock traded hands, compared to its average volume of 45,181. The stock's 50-day moving average price is $24.06 and its 200-day moving average price is $21.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $541.90 million, a price-to-earnings ratio of 10.75 and a beta of 0.69. CNB Financial has a 12 month low of $17.74 and a 12 month high of $26.87.
CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. Equities analysts forecast that CNB Financial will post 2.25 EPS for the current fiscal year.
Hedge Funds Weigh In On CNB Financial
A number of hedge funds have recently modified their holdings of CCNE. Vanguard Group Inc. grew its position in CNB Financial by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank's stock valued at $21,463,000 after acquiring an additional 15,870 shares during the period. Dimensional Fund Advisors LP increased its position in shares of CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank's stock worth $19,280,000 after purchasing an additional 24,666 shares in the last quarter. American Century Companies Inc. increased its position in shares of CNB Financial by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank's stock worth $7,289,000 after purchasing an additional 51,080 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in CNB Financial by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank's stock valued at $2,698,000 after purchasing an additional 4,973 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in CNB Financial by 8.1% in the first quarter. Empowered Funds LLC now owns 60,792 shares of the bank's stock valued at $1,240,000 after buying an additional 4,550 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.
CNB Financial Company Profile
(
Get Free Report)
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.
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