CNB Financial (NASDAQ:CCNE) Stock Crosses Above 200 Day Moving Average – What’s Next?

CNB Financial Co. (NASDAQ:CCNE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.28 and traded as high as $24.06. CNB Financial shares last traded at $22.86, with a volume of 53,657 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st.

CNB Financial Stock Performance

The stock’s 50 day moving average is $23.75 and its 200 day moving average is $21.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The firm has a market cap of $470.49 million, a price-to-earnings ratio of 9.43 and a beta of 0.69.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $89.52 million during the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. Analysts anticipate that CNB Financial Co. will post 2.25 earnings per share for the current year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.21%. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is presently 30.25%.

Institutional Investors Weigh In On CNB Financial

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in shares of CNB Financial during the first quarter valued at approximately $81,000. SG Americas Securities LLC purchased a new stake in CNB Financial in the 3rd quarter worth approximately $181,000. PNC Financial Services Group Inc. raised its holdings in shares of CNB Financial by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after acquiring an additional 2,599 shares in the last quarter. AQR Capital Management LLC grew its stake in CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after buying an additional 568 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in CNB Financial by 73.9% in the first quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock valued at $604,000 after acquiring an additional 12,589 shares during 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.