CNB Financial Corporation (NASDAQ:CCNE) shares hit a new 52-week high on Tuesday . The stock traded as high as $28.48 and last traded at $28.48, with a volume of 31,351 shares. The stock had previously closed at $27.96.
CCNE has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded CNB Financial Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Monday, July 24th. BidaskClub cut CNB Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st.
The company’s 50-day moving average price is $25.98 and its 200-day moving average price is $24.45. The firm has a market cap of $432.04 million, a PE ratio of 17.12 and a beta of 0.87.
CNB Financial Corporation (NASDAQ:CCNE) last released its earnings results on Friday, July 21st. The bank reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.12. The firm had revenue of $28.08 million during the quarter, compared to analysts’ expectations of $27.14 million. CNB Financial Corporation had a net margin of 20.21% and a return on equity of 10.92%. On average, equities analysts anticipate that CNB Financial Corporation will post $1.60 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $0.66 annualized dividend and a yield of 2.32%. CNB Financial Corporation’s payout ratio is currently 39.76%.
In other CNB Financial Corporation news, Director Dennis L. Merrey sold 2,000 shares of CNB Financial Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.56, for a total value of $53,120.00. Following the completion of the sale, the director now directly owns 49,570 shares of the company’s stock, valued at approximately $1,316,579.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. grew its stake in CNB Financial Corporation by 1.3% in the 1st quarter. Prudential Financial Inc. now owns 35,500 shares of the bank’s stock worth $848,000 after acquiring an additional 440 shares during the period. Royce & Associates LP grew its stake in CNB Financial Corporation by 5.8% in the 2nd quarter. Royce & Associates LP now owns 725,163 shares of the bank’s stock worth $17,382,000 after acquiring an additional 39,995 shares during the period. SG Americas Securities LLC purchased a new stake in CNB Financial Corporation in the 1st quarter worth approximately $169,000. KCG Holdings Inc. purchased a new stake in CNB Financial Corporation in the 1st quarter worth approximately $215,000. Finally, Kennedy Capital Management Inc. grew its stake in CNB Financial Corporation by 25.5% in the 1st quarter. Kennedy Capital Management Inc. now owns 178,379 shares of the bank’s stock worth $4,261,000 after acquiring an additional 36,222 shares during the period. 42.36% of the stock is owned by hedge funds and other institutional investors.
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About CNB Financial Corporation
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
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