CNB Bank Has $4.04 Million Stake in CNB Financial Co. (NASDAQ:CCNE)

CNB Bank decreased its holdings in CNB Financial Co. (NASDAQ:CCNE) by 2.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 167,783 shares of the bank’s stock after selling 3,714 shares during the quarter. CNB Financial comprises approximately 1.9% of CNB Bank’s holdings, making the stock its 7th largest position. CNB Bank’s holdings in CNB Financial were worth $4,037,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC acquired a new position in CNB Financial during the 1st quarter worth approximately $81,000. SG Americas Securities LLC bought a new stake in shares of CNB Financial during the third quarter worth $181,000. PNC Financial Services Group Inc. increased its holdings in shares of CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after buying an additional 2,599 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after acquiring an additional 568 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of CNB Financial by 82.3% during the 3rd quarter. Creative Planning now owns 18,440 shares of the bank’s stock valued at $444,000 after acquiring an additional 8,327 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Trading Down 1.2 %

Shares of NASDAQ CCNE opened at $24.72 on Friday. The stock has a market cap of $519.22 million, a P/E ratio of 10.39 and a beta of 0.69. The firm has a 50 day moving average price of $23.70 and a two-hundred day moving average price of $21.60. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. CNB Financial Co. has a 52-week low of $17.45 and a 52-week high of $26.87.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The business had revenue of $89.52 million during the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. As a group, equities analysts forecast that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.18 dividend. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.91%. CNB Financial’s dividend payout ratio is presently 30.25%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st.

CNB Financial Profile

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.