Key Points
- EVP Leanne Kassab sold 8,330 shares for about $296,000 at an average price of $35.54, reducing her holdings by 37.26% to 14,026 shares.
- CNB Financial reported quarterly earnings of $0.91 per share, topping analyst expectations of $0.88, and declared a $0.19 quarterly dividend.
- Analysts rate the stock a consensus “Moderate Buy”, with an average price target of $37.20.
CNB Financial Corporation (NASDAQ:CCNE - Get Free Report) EVP Leanne Kassab sold 8,330 shares of CNB Financial stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $35.54, for a total transaction of $296,048.20. Following the sale, the executive vice president owned 14,026 shares in the company, valued at approximately $498,484.04. This trade represents a 37.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
CNB Financial Price Performance
NASDAQ CCNE traded down $0.04 on Friday, reaching $35.60. The company's stock had a trading volume of 157,159 shares, compared to its average volume of 137,536. The firm has a market cap of $1.05 billion, a PE ratio of 9.37 and a beta of 0.61. The business has a 50-day moving average price of $34.61 and a 200 day moving average price of $32.14. CNB Financial Corporation has a 52 week low of $23.78 and a 52 week high of $37.70. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07.
CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The firm had revenue of $87.79 million during the quarter, compared to analysts' expectations of $87.76 million. CNB Financial had a net margin of 23.26% and a return on equity of 13.15%. Sell-side analysts expect that CNB Financial Corporation will post 3.58 EPS for the current year.
CNB Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.76 annualized dividend and a yield of 2.1%. CNB Financial's payout ratio is currently 20.00%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on CCNE shares. Piper Sandler initiated coverage on CNB Financial in a research note on Thursday, September 24th. They set an "overweight" rating and a $38.00 price objective for the company. Weiss Ratings cut CNB Financial from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, October 26th. DA Davidson lifted their price target on shares of CNB Financial from $34.00 to $36.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Wall Street Zen lowered shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $37.00 price target (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, CNB Financial currently has a consensus rating of "Moderate Buy" and an average price target of $37.20.
View Our Latest Research Report on CNB Financial
Top CNB Financial Stories
These are some of the CCNE stories that stood out recently:
- Positive Sentiment: CEO Michael D. Peduzzi bought 500 shares for about $17,815, and Director Jeffrey S. Powell purchased 560 shares for about $19,970. CEO purchase filing Director purchase filing
- Negative Sentiment: Insiders reported selling a combined 36,330 shares for roughly $1.31 million. This includes Director Gary Olson’s 25,000-share sale, EVP Leanne D. Kassab’s 8,330-share sale, and Director Richard B. Seager’s 3,000-share sale. The sales reduced each seller’s holdings, with Olson’s and Kassab’s representing about one-quarter and over one-third of their respective positions. Insider trading report EVP sale filing Director sale filing
- Neutral Sentiment: The article also notes CNB Financial’s previously reported quarterly results modestly beat earnings expectations ($0.91 per share versus $0.88) and that its quarterly dividend is $0.19 per share. These provide fundamental and income context but are not new catalysts in the latest insider-trading disclosures.
Institutional Investors Weigh In On CNB Financial
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in CNB Financial in the second quarter worth $78,011,000. Dimensional Fund Advisors LP increased its stake in shares of CNB Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank's stock valued at $43,613,000 after buying an additional 27,236 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of CNB Financial by 1.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 292,073 shares of the bank's stock valued at $8,458,000 after buying an additional 3,123 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of CNB Financial in the second quarter valued at about $7,667,000. Finally, Globeflex Capital L P bought a new position in shares of CNB Financial in the second quarter valued at about $5,396,000. 52.35% of the stock is owned by institutional investors and hedge funds.
CNB Financial Company Profile
(
Get Free Report)
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.
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