CNB Financial (NASDAQ:CCNE) Given New $28.00 Price Target at Keefe, Bruyette & Woods

CNB Financial (NASDAQ:CCNEFree Report) had its price objective lowered by Keefe, Bruyette & Woods from $30.00 to $28.00 in a research report sent to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

Separately, StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

View Our Latest Stock Report on CNB Financial

CNB Financial Trading Up 0.3 %

Shares of CCNE opened at $23.89 on Monday. The stock’s 50-day moving average price is $26.55 and its 200 day moving average price is $24.64. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $501.55 million, a price-to-earnings ratio of 10.21 and a beta of 0.71. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29.

CNB Financial (NASDAQ:CCNEGet Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. As a group, research analysts predict that CNB Financial will post 2.3 earnings per share for the current year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.01%. CNB Financial’s payout ratio is presently 30.77%.

Institutional Trading of CNB Financial

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of CNB Financial by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after acquiring an additional 24,666 shares during the period. Geode Capital Management LLC increased its position in shares of CNB Financial by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock worth $11,408,000 after purchasing an additional 9,359 shares in the last quarter. State Street Corp lifted its holdings in CNB Financial by 2.2% during the 3rd quarter. State Street Corp now owns 424,579 shares of the bank’s stock valued at $10,215,000 after purchasing an additional 8,942 shares during the last quarter. American Century Companies Inc. boosted its position in CNB Financial by 16.7% in the second quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after buying an additional 51,080 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in CNB Financial by 11.2% during the third quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank’s stock worth $3,749,000 after buying an additional 15,714 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

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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