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

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

CNB Financial Trading Up 1.4 %

CNB Financial stock opened at $18.31 on Wednesday. CNB Financial has a 52 week low of $16.43 and a 52 week high of $23.40. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $384.97 million, a P/E ratio of 7.69 and a beta of 0.78. The stock has a 50-day simple moving average of $19.93 and a 200 day simple moving average of $20.32.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. CNB Financial had a return on equity of 10.85% and a net margin of 15.96%. The business had revenue of $56.83 million during the quarter, compared to analysts’ expectations of $55.10 million. Analysts expect that CNB Financial will post 2.4 earnings per share for the current year.

Institutional Investors Weigh In On CNB Financial

A number of institutional investors have recently made changes to their positions in CCNE. American Century Companies Inc. boosted its holdings in shares of CNB Financial by 27.0% during the first quarter. American Century Companies Inc. now owns 68,669 shares of the bank’s stock worth $1,807,000 after acquiring an additional 14,617 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of CNB Financial by 99.8% during the first quarter. Acadian Asset Management LLC now owns 10,355 shares of the bank’s stock worth $271,000 after acquiring an additional 5,172 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of CNB Financial by 57.9% during the first quarter. MetLife Investment Management LLC now owns 10,708 shares of the bank’s stock worth $282,000 after acquiring an additional 3,926 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of CNB Financial during the first quarter worth approximately $505,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of CNB Financial by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 633,297 shares of the bank’s stock worth $16,669,000 after acquiring an additional 18,369 shares during the period. Institutional investors own 52.35% of the company’s stock.

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.