CNB Financial (NASDAQ:CCNE) Rating Lowered to Sell at ValuEngine

CNB Financial (NASDAQ:CCNE) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

A number of other research analysts have also recently weighed in on CCNE. BidaskClub cut shares of CNB Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 4th. Janney Montgomery Scott assumed coverage on shares of CNB Financial in a report on Tuesday, January 7th. They issued a “buy” rating for the company. TheStreet cut shares of CNB Financial from a “b-” rating to a “c+” rating in a report on Tuesday, March 17th. Finally, Zacks Investment Research upgraded shares of CNB Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $33.50.

Shares of CCNE traded down $0.49 during trading on Wednesday, reaching $17.50. 50,200 shares of the company traded hands, compared to its average volume of 35,755. CNB Financial has a twelve month low of $15.82 and a twelve month high of $33.78. The stock has a market cap of $257.98 million, a PE ratio of 6.65 and a beta of 1.08. The stock has a 50-day simple moving average of $24.43 and a 200-day simple moving average of $29.26. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.04.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.69 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $36.50 million during the quarter, compared to analysts’ expectations of $37.09 million. CNB Financial had a net margin of 22.06% and a return on equity of 13.78%. On average, equities research analysts predict that CNB Financial will post 2.44 EPS for the current year.

In other CNB Financial news, Director Francis X. Straub III acquired 5,107 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was purchased at an average price of $19.70 per share, for a total transaction of $100,607.90. Following the completion of the acquisition, the director now owns 17,459 shares of the company’s stock, valued at approximately $343,942.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CCNE. Great West Life Assurance Co. Can acquired a new position in CNB Financial during the 4th quarter worth approximately $32,000. New York State Teachers Retirement System acquired a new position in CNB Financial during the 4th quarter worth approximately $42,000. Bank of Montreal Can grew its holdings in CNB Financial by 44.5% during the 4th quarter. Bank of Montreal Can now owns 1,838 shares of the bank’s stock worth $60,000 after acquiring an additional 566 shares in the last quarter. Denali Advisors LLC grew its holdings in CNB Financial by 13,803.3% during the 4th quarter. Denali Advisors LLC now owns 4,171 shares of the bank’s stock worth $136,000 after acquiring an additional 4,141 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in CNB Financial by 64.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,524 shares of the bank’s stock worth $148,000 after acquiring an additional 1,780 shares in the last quarter. Institutional investors own 44.51% of the company’s stock.

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.

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