CNB Financial Corporation (NASDAQ:CCNE) Short Interest Update

CNB Financial Corporation (NASDAQ:CCNE) was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totaling 440,362 shares, a decrease of 17.0% from the March 31st total of 530,318 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average trading volume of 161,922 shares, the short-interest ratio is currently 2.7 days.

Wall Street Analysts Forecast Growth

CCNE has been the subject of several recent research reports. Weiss Ratings upgraded CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Stephens lifted their price target on shares of CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of CNB Financial from $30.00 to $34.00 and gave the stock a “market perform” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $34.50.

CNB Financial Stock Up 1.0%

CCNE traded up $0.30 during midday trading on Friday, reaching $30.68. 78,030 shares of the company were exchanged, compared to its average volume of 140,809. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The company’s fifty day moving average price is $29.18 and its 200 day moving average price is $27.36. The company has a market cap of $909.36 million, a price-to-earnings ratio of 10.92 and a beta of 0.65. CNB Financial has a one year low of $21.19 and a one year high of $31.80.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Monday, April 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. The firm had revenue of $83.32 million during the quarter, compared to the consensus estimate of $79.35 million. CNB Financial had a return on equity of 12.58% and a net margin of 17.62%. As a group, analysts expect that CNB Financial will post 3.58 EPS for the current year.

CNB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were paid a dividend of $0.19 per share. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, February 27th. This represents a $0.76 annualized dividend and a yield of 2.5%. CNB Financial’s dividend payout ratio (DPR) is 27.05%.

Institutional Trading of CNB Financial

Several institutional investors have recently made changes to their positions in CCNE. Flagship Harbor Advisors LLC purchased a new stake in shares of CNB Financial in the fourth quarter valued at about $27,000. Peoples Financial Services CORP. bought a new stake in CNB Financial in the 3rd quarter worth about $28,000. Founders Capital Management bought a new stake in CNB Financial in the 3rd quarter worth about $31,000. Tower Research Capital LLC TRC increased its stake in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after buying an additional 636 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in CNB Financial by 16,173.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after buying an additional 2,426 shares during the last quarter. Institutional investors own 52.35% of the company’s stock.

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.