Boenning Scattergood Reiterates Outperform Rating for CNB Financial (NASDAQ:CCNE)

CNB Financial (NASDAQ:CCNE)‘s stock had its “outperform” rating restated by equities research analysts at Boenning Scattergood in a research report issued on Thursday, June 20th, Zacks.com reports.

Several other equities analysts also recently weighed in on the company. ValuEngine raised Alleghany from a “hold” rating to a “buy” rating in a research report on Friday, April 19th. Zacks Investment Research raised HAYS PLC/ADR from a “sell” rating to a “hold” rating in a research report on Tuesday, June 18th. Finally, BidaskClub raised YY from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th.

CCNE stock traded up $0.34 during midday trading on Thursday, reaching $27.24. The stock had a trading volume of 13,548 shares, compared to its average volume of 18,186. CNB Financial has a 52-week low of $21.43 and a 52-week high of $32.41. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average price of $26.61. The stock has a market cap of $415.11 million, a P/E ratio of 12.33 and a beta of 0.98.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Monday, April 15th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $33.91 million during the quarter, compared to the consensus estimate of $33.38 million. CNB Financial had a return on equity of 13.85% and a net margin of 22.37%. On average, analysts predict that CNB Financial will post 2.48 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of CNB Financial by 2.2% during the fourth quarter. BlackRock Inc. now owns 771,260 shares of the bank’s stock worth $17,701,000 after buying an additional 16,570 shares in the last quarter. Royce & Associates LP lifted its stake in CNB Financial by 1.6% during the first quarter. Royce & Associates LP now owns 711,224 shares of the bank’s stock worth $17,973,000 after purchasing an additional 11,131 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in CNB Financial by 5.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 560,546 shares of the bank’s stock worth $12,864,000 after purchasing an additional 28,236 shares during the last quarter. Stifel Financial Corp lifted its stake in CNB Financial by 5.8% during the fourth quarter. Stifel Financial Corp now owns 195,703 shares of the bank’s stock worth $4,497,000 after purchasing an additional 10,687 shares during the last quarter. Finally, LSV Asset Management lifted its stake in CNB Financial by 2.2% during the first quarter. LSV Asset Management now owns 150,480 shares of the bank’s stock worth $3,802,000 after purchasing an additional 3,285 shares during the last quarter. 43.89% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: Tariff

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.