According to Zacks, “CNB Financial Corporation is a bank holding company headquartered in Clearfield, PA. It conducts business principally through County National Bank whose market area includes twenty convenient office locations in Pennsylvania. “
Separately, StockNews.com cut shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Saturday.
CNB Financial (NASDAQ:CCNE – Get Rating) last released its quarterly earnings results on Monday, April 18th. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CNB Financial had a net margin of 27.16% and a return on equity of 15.62%. The firm had revenue of $52.27 million during the quarter, compared to analysts’ expectations of $50.22 million. On average, sell-side analysts expect that CNB Financial will post 3.31 EPS for the current year.
In other CNB Financial news, Director Joel E. Peterson purchased 4,507 shares of CNB Financial stock in a transaction dated Monday, March 7th. The stock was acquired at an average price of $25.79 per share, for a total transaction of $116,235.53. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael D. Peduzzi purchased 2,500 shares of CNB Financial stock in a transaction dated Thursday, March 3rd. The stock was acquired at an average price of $26.41 per share, with a total value of $66,025.00. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 10,055 shares of company stock valued at $263,111. 3.09% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new position in shares of CNB Financial during the 1st quarter worth approximately $235,000. Wellington Management Group LLP raised its stake in shares of CNB Financial by 2.9% during the 1st quarter. Wellington Management Group LLP now owns 549,201 shares of the bank’s stock worth $14,454,000 after acquiring an additional 15,400 shares in the last quarter. State Street Corp raised its stake in shares of CNB Financial by 3.1% during the 1st quarter. State Street Corp now owns 284,107 shares of the bank’s stock worth $7,478,000 after acquiring an additional 8,446 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of CNB Financial by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,334 shares of the bank’s stock worth $1,141,000 after acquiring an additional 1,200 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of CNB Financial by 9.8% during the 1st quarter. First Trust Advisors LP now owns 8,605 shares of the bank’s stock worth $226,000 after acquiring an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 42.24% of the company’s stock.
About CNB Financial (Get Rating)
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.
- Get a free copy of the StockNews.com research report on CNB Financial (CCNE)
- Short-Covering Begins In Big Lots
- Agilent Technologies Is Bottoming But Don’t Buy It Yet
- Institutions Ring The Register On Toll Brothers Stock
- Dick’s Sporting Goods Falls Flat On Weak Guidance
- Two Retailers, One To Buy And One To Avoid
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Want More Great Investing Ideas?
- Bear Market Game Plan!
- The 10 Best Stocks to Own in 2022
- 7 Stocks to Buy and Hold Forever
- 3 Stocks to DOUBLE This Year
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.