CNB Financial (NASDAQ:CCNE – Get Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Separately, Keefe, Bruyette & Woods decreased their target price on CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 17th.
View Our Latest Stock Report on CNB Financial
CNB Financial Stock Performance
CNB Financial (NASDAQ:CCNE – Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $89.52 million for the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a return on equity of 10.47% and a net margin of 15.30%. As a group, research analysts anticipate that CNB Financial will post 2.25 earnings per share for the current year.
Institutional Investors Weigh In On CNB Financial
A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in CNB Financial during the first quarter valued at approximately $81,000. New York State Common Retirement Fund boosted its holdings in CNB Financial by 14.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock valued at $178,000 after purchasing an additional 1,006 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after purchasing an additional 2,599 shares in the last quarter. Staley Capital Advisers Inc. acquired a new stake in CNB Financial during the fourth quarter valued at approximately $258,000. Finally, BNP Paribas Financial Markets boosted its holdings in CNB Financial by 21.0% during the fourth quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock valued at $385,000 after purchasing an additional 2,957 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.
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.
Featured Articles
- Five stocks we like better than CNB Financial
- How Can Investors Benefit From After-Hours Trading
- The Cannabis Sector: Profitability Takes Center Stage
- High Flyers: 3 Natural Gas Stocks for March 2022
- Amazon’s Stock Plunge: Is a Prime Buying Opportunity Knocking?
- What Are Dividend Contenders? Investing in Dividend Contenders
- Buy the Dip in e.l.f. Beauty: Analysts Point to a New High
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.