Shares of CNB Financial Corp (NASDAQ:CCNE) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.
Brokers have set a one year consensus price target of $34.25 for the company and are predicting that the company will post $0.57 EPS for the current quarter, according to Zacks. Zacks has also given CNB Financial an industry rank of 152 out of 255 based on the ratings given to related companies.
Several analysts recently issued reports on CCNE shares. ValuEngine downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. BidaskClub downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. Finally, Zacks Investment Research raised shares of CNB Financial from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th.
CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Friday, July 20th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. CNB Financial had a net margin of 18.85% and a return on equity of 11.90%. The business had revenue of $31.43 million during the quarter, compared to the consensus estimate of $29.91 million. Analysts forecast that CNB Financial will post 2.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. This is an increase from CNB Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, August 30th. CNB Financial’s payout ratio is currently 38.42%.
A number of institutional investors and hedge funds have recently bought and sold shares of CCNE. Northern Trust Corp boosted its holdings in CNB Financial by 40.5% during the 2nd quarter. Northern Trust Corp now owns 262,367 shares of the bank’s stock worth $7,887,000 after acquiring an additional 75,580 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in CNB Financial by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 509,416 shares of the bank’s stock worth $15,314,000 after acquiring an additional 38,942 shares during the last quarter. BlackRock Inc. boosted its holdings in CNB Financial by 3.5% during the 2nd quarter. BlackRock Inc. now owns 745,408 shares of the bank’s stock worth $22,406,000 after acquiring an additional 24,915 shares during the last quarter. LSV Asset Management boosted its holdings in CNB Financial by 16.6% during the 2nd quarter. LSV Asset Management now owns 172,649 shares of the bank’s stock worth $5,189,000 after acquiring an additional 24,600 shares during the last quarter. Finally, Maltese Capital Management LLC purchased a new position in CNB Financial during the 2nd quarter worth $651,000. 44.61% of the stock is currently owned by hedge funds and other institutional investors.
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. It 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.
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