CNB Financial (NASDAQ:CCNE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

CNB Financial Co. (NASDAQ:CCNE)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.56 and traded as high as $25.05. CNB Financial shares last traded at $25.03, with a volume of 36,466 shares trading hands.

Wall Street Analysts Forecast Growth

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

CNB Financial Stock Up 1.0 %

The firm has a market capitalization of $525.73 million, a price-to-earnings ratio of 10.52 and a beta of 0.69. The business’s 50-day moving average is $23.65 and its two-hundred day moving average is $21.56. 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 (NASDAQ:CCNE) last announced its quarterly 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 business had revenue of $89.52 million for the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. On average, equities analysts anticipate that CNB Financial Co. will post 2.25 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.18 per share. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is 30.25%.

Institutional Trading of CNB Financial

Several hedge funds have recently bought and sold shares of the stock. Creative Planning raised its holdings in CNB Financial by 82.3% during the 3rd quarter. Creative Planning now owns 18,440 shares of the bank’s stock worth $444,000 after buying an additional 8,327 shares during the period. Unison Advisors LLC acquired a new stake in CNB Financial during the 3rd quarter worth approximately $692,000. SG Americas Securities LLC acquired a new stake in CNB Financial during the 3rd quarter worth approximately $181,000. AQR Capital Management LLC raised its holdings in CNB Financial by 5.7% during 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock worth $19,280,000 after buying an additional 24,666 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.