CNB Financial Co. (NASDAQ:CCNE – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.09 and last traded at $24.61, with a volume of 12413 shares changing hands. The stock had previously closed at $24.10.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on CCNE shares. Keefe, Bruyette & Woods cut their price target on CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 17th. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 19th.
Check Out Our Latest Stock Analysis on CNB Financial
CNB Financial Stock Up 3.0 %
CNB Financial (NASDAQ:CCNE – Get Free Report) last announced its quarterly earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. CNB Financial had a return on equity of 10.47% and a net margin of 15.30%. The company had revenue of $89.52 million during the quarter, compared to the consensus estimate of $55.30 million. As a group, sell-side analysts expect that CNB Financial Co. will post 2.22 EPS for the current year.
CNB Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.175 per share. The ex-dividend date was Friday, May 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.68%. CNB Financial’s payout ratio is presently 29.41%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CCNE. Acadian Asset Management LLC bought a new position in shares of CNB Financial during the first quarter worth about $81,000. New York State Common Retirement Fund grew its holdings in shares of CNB Financial by 14.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after buying an additional 1,006 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in CNB Financial by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after purchasing an additional 2,599 shares in the last quarter. SG Americas Securities LLC grew its stake in CNB Financial by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock valued at $252,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Staley Capital Advisers Inc. bought a new position in CNB Financial in the fourth quarter valued at approximately $258,000. 52.35% of the stock is currently owned by institutional investors.
About CNB Financial
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.
Read More
- Five stocks we like better than CNB Financial
- Do ETFs Pay Dividends? What You Need to Know
- Viking Therapeutics: Pharma Stock Soars on Positive Earnings
- What Are Dividend Champions? How to Invest in the Champions
- Top 3 Small Cap Stocks Emerging as Rotation Winners
- P/E Ratio Calculation: How to Assess Stocks
- Bargain Alert: 3 Stocks Worth Watching While The Market Cools
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.