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.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.