CNB Financial (NASDAQ:CCNE) Coverage Initiated at Stephens

Analysts at Stephens assumed coverage on shares of CNB Financial (NASDAQ:CCNE) in a research note issued on Monday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $26.50 price target on the bank’s stock. Stephens’ target price indicates a potential upside of 27.10% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods cut their price objective on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th.

CNB Financial Stock Down 0.4 %

NASDAQ CCNE opened at $20.85 on Monday. CNB Financial has a 12 month low of $17.74 and a 12 month high of $29.29. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market cap of $437.43 million, a PE ratio of 8.76 and a beta of 0.53. The stock’s 50 day moving average is $23.32 and its 200 day moving average is $24.86.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Monday, April 14th. The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. The firm had revenue of $57.55 million for the quarter, compared to the consensus estimate of $54.05 million. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Research analysts predict that CNB Financial will post 2.04 EPS for the current fiscal year.

Institutional Trading of CNB Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in shares of CNB Financial by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank’s stock worth $25,139,000 after buying an additional 33,424 shares during the period. Geode Capital Management LLC boosted its stake in shares of CNB Financial by 2.0% during the third quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock valued at $11,408,000 after purchasing an additional 9,359 shares in the last quarter. American Century Companies Inc. raised its stake in CNB Financial by 13.3% in the fourth quarter. American Century Companies Inc. now owns 455,640 shares of the bank’s stock worth $11,327,000 after buying an additional 53,661 shares in the last quarter. State Street Corp lifted its holdings in CNB Financial by 2.2% during the third quarter. State Street Corp now owns 424,579 shares of the bank’s stock worth $10,215,000 after buying an additional 8,942 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in CNB Financial by 35.8% during the 4th quarter. Ameriprise Financial Inc. now owns 298,954 shares of the bank’s stock valued at $7,432,000 after acquiring an additional 78,874 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

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.