CNB Financial (CCNE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of CNB Financial (NASDAQ:CCNE) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $29.00 price target on the bank’s stock.

According to Zacks, “CNB Financial Corporation is a bank holding company headquartered in Clearfield, PA. It conducts business principally through County National Bank whose market area includes twenty convenient office locations in Pennsylvania. “

Other research analysts have also recently issued research reports about the company. BidaskClub upgraded CNB Financial from a sell rating to a hold rating in a research note on Friday, August 24th. ValuEngine cut CNB Financial from a buy rating to a hold rating in a research note on Wednesday, September 19th. Finally, Boenning Scattergood restated a buy rating on shares of CNB Financial in a research note on Monday, October 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $31.17.



Shares of CCNE traded up $0.66 on Wednesday, reaching $26.62. The stock had a trading volume of 21,131 shares, compared to its average volume of 16,107. The stock has a market cap of $406.89 million, a PE ratio of 13.05 and a beta of 0.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.31. CNB Financial has a 12-month low of $25.25 and a 12-month high of $32.86.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Friday, October 19th. The bank reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The company had revenue of $32.81 million during the quarter, compared to analysts’ expectations of $31.80 million. CNB Financial had a return on equity of 12.69% and a net margin of 19.33%. Equities analysts anticipate that CNB Financial will post 2.24 EPS for the current year.

A number of hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its position in CNB Financial by 16.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 32,961 shares of the bank’s stock valued at $959,000 after buying an additional 4,700 shares in the last quarter. Northern Trust Corp increased its position in CNB Financial by 3.0% during the 1st quarter. Northern Trust Corp now owns 186,787 shares of the bank’s stock valued at $5,434,000 after buying an additional 5,455 shares in the last quarter. First Trust Advisors LP increased its position in CNB Financial by 16.0% during the 3rd quarter. First Trust Advisors LP now owns 43,936 shares of the bank’s stock valued at $1,268,000 after buying an additional 6,047 shares in the last quarter. New York State Common Retirement Fund increased its position in CNB Financial by 115.7% during the 1st quarter. New York State Common Retirement Fund now owns 32,576 shares of the bank’s stock valued at $948,000 after buying an additional 17,476 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in CNB Financial by 8.1% during the 2nd quarter. Renaissance Technologies LLC now owns 249,300 shares of the bank’s stock valued at $7,494,000 after buying an additional 18,600 shares in the last quarter. 44.61% of the stock is owned by institutional investors.

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. It 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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