CNB Financial (NASDAQ:CCNE) Upgraded to “Buy” at StockNews.com

CNB Financial (NASDAQ:CCNE) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

CNB Financial Stock Performance

NASDAQ:CCNE opened at $25.47 on Tuesday. The company has a market capitalization of $534.97 million, a PE ratio of 10.70 and a beta of 0.69. The company has a 50 day simple moving average of $23.80 and a two-hundred day simple moving average of $21.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. CNB Financial has a fifty-two week low of $17.45 and a fifty-two week high of $26.87.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $94.21 million during the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. Research analysts anticipate that CNB Financial will post 2.25 earnings per share for the current year.

Institutional Trading of CNB Financial

Large investors have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 568 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 worth $200,000 after purchasing an additional 2,599 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CNB Financial in the 1st quarter worth $81,000. Empowered Funds LLC lifted its holdings in shares of CNB Financial by 8.1% in the 1st quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock worth $1,240,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of CNB Financial by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock worth $2,698,000 after purchasing an additional 4,973 shares in the last quarter. Institutional investors and hedge funds 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.