StockNews.com Lowers CNB Financial (NASDAQ:CCNE) to Hold

CNB Financial (NASDAQ:CCNE - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Wednesday.

CNB Financial Trading Up 2.7 %

Shares of CCNE stock traded up $0.70 on Wednesday, hitting $26.28. The stock had a trading volume of 2,843 shares, compared to its average volume of 45,037. The company's 50 day moving average price is $24.06 and its 200-day moving average price is $21.90. CNB Financial has a 1 year low of $17.74 and a 1 year high of $26.87. The firm has a market capitalization of $551.99 million, a P/E ratio of 10.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $94.21 million during the quarter, compared to analysts' expectations of $55.40 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. Analysts anticipate that CNB Financial will post 2.25 earnings per share for the current year.

Institutional Investors Weigh In On CNB Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beese Fulmer Investment Management Inc. purchased a new position in shares of CNB Financial during the 3rd quarter worth approximately $226,000. Creative Planning lifted its stake in shares of CNB Financial by 82.3% during the 3rd 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 period. Unison Advisors LLC purchased a new stake in CNB Financial in the third quarter valued at approximately $692,000. SG Americas Securities LLC acquired a new stake in shares of CNB Financial during the 3rd quarter worth $181,000. Finally, AQR Capital Management LLC lifted its stake in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank's stock valued at $215,000 after purchasing an additional 568 shares in 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.