CNB Financial Corporation (NASDAQ:CCNE - Get Free Report) was the target of a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 411,345 shares, an increase of 42.1% from the February 12th total of 289,569 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 148,916 shares, the short-interest ratio is currently 2.8 days. Based on an average trading volume of 148,916 shares, the short-interest ratio is currently 2.8 days. Approximately 1.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of CNB Financial by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank's stock worth $273,000 after purchasing an additional 546 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in CNB Financial by 29.9% in the third quarter. Ameritas Investment Partners Inc. now owns 2,660 shares of the bank's stock valued at $64,000 after buying an additional 613 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in CNB Financial by 46.8% in the second 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 in the last quarter. Legal & General Group Plc grew its stake in CNB Financial by 35.5% during the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank's stock worth $63,000 after buying an additional 679 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of CNB Financial by 6.1% during the second quarter. First Trust Advisors LP now owns 13,389 shares of the bank's stock worth $306,000 after buying an additional 765 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Price Performance

Shares of CCNE stock traded up $0.04 during mid-day trading on Friday, reaching $27.13. The company's stock had a trading volume of 140,781 shares, compared to its average volume of 132,837. The firm's 50-day moving average is $27.96 and its two-hundred day moving average is $26.37. The company has a market cap of $799.79 million, a P/E ratio of 11.16 and a beta of 0.71. CNB Financial has a 1-year low of $19.32 and a 1-year high of $30.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its earnings results on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.10. The business had revenue of $87.16 million for the quarter, compared to analyst estimates of $73.10 million. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. On average, research analysts predict that CNB Financial will post 2.04 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.76 annualized dividend and a yield of 2.8%. This is a positive change from CNB Financial's previous quarterly dividend of $0.18. CNB Financial's payout ratio is presently 31.28%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CCNE. Stephens increased their price target on shares of CNB Financial from $28.00 to $35.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. Weiss Ratings raised shares of CNB Financial from a "hold (c)" rating to a "buy (b)" rating in a research report on Thursday. Finally, Wall Street Zen upgraded shares of CNB Financial from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $32.00.

Check Out Our Latest Stock Analysis on CCNE

CNB Financial Company Profile

(Get Free Report)

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.

See Also

• Five stocks we like better than CNB Financial
• Elon Musk’s $1 Quadrillion AI IPO
• Look who’s buying 2 tonnes of gold… per week!
• Iran isn't the real war
• Trump's NEW Executive Order - BIG Changes Coming to Retirement Accounts
• 3 times the government seized private wealth (Are we next?)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in CNB Financial Right Now?

Before you consider CNB Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CNB Financial wasn't on the list.

While CNB Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here