CNB Financial (NASDAQ:CCNE) PT Lowered to $22.00

CNB Financial (NASDAQ:CCNE) had its target price cut by analysts at Keefe, Bruyette & Woods from $23.00 to $22.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 20.15% from the stock’s previous close.

CNB Financial Stock Up 1.4 %

CNB Financial stock opened at $18.31 on Wednesday. The firm has a 50 day moving average price of $19.93 and a 200-day moving average price of $20.32. The company has a market capitalization of $384.97 million, a P/E ratio of 7.69 and a beta of 0.78. CNB Financial has a twelve month low of $16.43 and a twelve month high of $23.40. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $56.83 million during the quarter, compared to the consensus estimate of $55.10 million. CNB Financial had a net margin of 15.96% and a return on equity of 10.85%. As a group, equities analysts predict that CNB Financial will post 2.4 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CCNE. American Century Companies Inc. boosted its holdings in CNB Financial by 27.0% in the 1st quarter. American Century Companies Inc. now owns 68,669 shares of the bank’s stock worth $1,807,000 after buying an additional 14,617 shares during the period. Acadian Asset Management LLC boosted its holdings in CNB Financial by 99.8% in the 1st quarter. Acadian Asset Management LLC now owns 10,355 shares of the bank’s stock worth $271,000 after buying an additional 5,172 shares during the period. MetLife Investment Management LLC boosted its holdings in CNB Financial by 57.9% in the 1st quarter. MetLife Investment Management LLC now owns 10,708 shares of the bank’s stock valued at $282,000 after purchasing an additional 3,926 shares during the period. Panagora Asset Management Inc. bought a new position in CNB Financial in the 1st quarter valued at $505,000. Finally, Dimensional Fund Advisors LP boosted its holdings in CNB Financial by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 633,297 shares of the bank’s stock valued at $16,669,000 after purchasing an additional 18,369 shares during the period. 52.35% of the stock is owned by institutional investors.

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.