Keefe, Bruyette & Woods Lowers CNB Financial (NASDAQ:CCNE) Price Target to $28.00

CNB Financial (NASDAQ:CCNE) had its target price decreased by research analysts at Keefe, Bruyette & Woods from $30.00 to $28.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 17.60% from the stock’s previous close.

Separately, StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

CNB Financial Stock Performance

Shares of CCNE stock opened at $23.81 on Monday. The stock has a 50-day moving average of $26.60 and a 200-day moving average of $24.62. CNB Financial has a one year low of $17.74 and a one year high of $29.29. The stock has a market cap of $499.87 million, a PE ratio of 10.18 and a beta of 0.71. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm 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 14.90% and a return on equity of 10.13%. As a group, sell-side analysts expect that CNB Financial will post 2.3 earnings per share for the current year.

Institutional Trading of CNB Financial

Several hedge funds have recently bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC increased its position in shares of CNB Financial by 0.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock worth $3,460,000 after acquiring an additional 390 shares in the last quarter. AQR Capital Management LLC boosted 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 purchasing an additional 568 shares during the period. Martingale Asset Management L P boosted its stake in CNB Financial by 1.6% in the 3rd quarter. Martingale Asset Management L P now owns 62,534 shares of the bank’s stock worth $1,505,000 after purchasing an additional 1,013 shares during the period. Empowered Funds LLC increased its holdings in CNB Financial by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 68,956 shares of the bank’s stock worth $1,659,000 after purchasing an additional 3,484 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of CNB Financial by 11.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock valued at $1,128,000 after purchasing an additional 4,850 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.