CNB Financial (NASDAQ:CCNE) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

CNB Financial Corporation (NASDAQ:CCNE)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.18 and traded as high as $27.28. CNB Financial shares last traded at $27.10, with a volume of 200,138 shares changing hands.

Wall Street Analysts Forecast Growth

CCNE has been the topic of several analyst reports. Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.75.

CNB Financial Trading Up 2.8%

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.13. The stock has a market cap of $809.05 million, a price-to-earnings ratio of 13.82 and a beta of 0.73. The company’s fifty day moving average is $26.33 and its two-hundred day moving average is $25.20.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Thursday, October 30th. The bank reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a net margin of 11.92% and a return on equity of 10.38%. The business had revenue of $77.70 million during the quarter, compared to analysts’ expectations of $68.50 million. On average, research analysts predict that CNB Financial Corporation will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.6%. CNB Financial’s dividend payout ratio (DPR) is presently 36.18%.

Institutional Trading of CNB Financial

A number of institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in CNB Financial by 67.6% during the third quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock valued at $6,272,000 after buying an additional 104,516 shares in the last quarter. Maltese Capital Management LLC boosted its position in CNB Financial by 228.4% during the third quarter. Maltese Capital Management LLC now owns 478,200 shares of the bank’s stock valued at $11,572,000 after purchasing an additional 332,600 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in CNB Financial in the third quarter valued at about $444,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of CNB Financial by 14.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,022 shares of the bank’s stock worth $315,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Focus Partners Wealth acquired a new stake in shares of CNB Financial during the 3rd quarter valued at about $1,406,000. 52.35% of the stock is owned by institutional investors and hedge funds.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.