CNB Financial (NASDAQ:CCNE – Get Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Separately, Keefe, Bruyette & Woods lowered their price objective on CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 17th.
View Our Latest Analysis on CNB Financial
CNB Financial Stock Performance
CNB Financial (NASDAQ:CCNE – Get Free Report) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. CNB Financial had a return on equity of 10.47% and a net margin of 15.30%. The firm had revenue of $89.52 million for the quarter, compared to analysts’ expectations of $55.30 million. Sell-side analysts predict that CNB Financial will post 2.25 EPS for the current year.
Institutional Investors Weigh In On CNB Financial
A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in CNB Financial in the first quarter valued at approximately $81,000. New York State Common Retirement Fund grew its position in CNB Financial by 14.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after acquiring an additional 1,006 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in CNB Financial by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after purchasing an additional 2,599 shares in the last quarter. Staley Capital Advisers Inc. bought a new position in CNB Financial in the fourth quarter valued at about $258,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of 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. Institutional investors and hedge funds own 52.35% of the company’s stock.
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.
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