Bailard Inc. Buys 9,798 Shares of CNB Financial Co. (NASDAQ:CCNE)

Bailard Inc. increased its position in CNB Financial Co. (NASDAQ:CCNE) by 61.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,653 shares of the bank’s stock after acquiring an additional 9,798 shares during the quarter. Bailard Inc. owned about 0.12% of CNB Financial worth $638,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CNB Financial in the third quarter worth $640,000. Wealth Enhancement Advisory Services LLC grew its position in CNB Financial by 19.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank’s stock worth $3,616,000 after buying an additional 24,883 shares in the last quarter. Barclays PLC increased its stake in CNB Financial by 274.7% in the 3rd quarter. Barclays PLC now owns 27,528 shares of the bank’s stock worth $663,000 after acquiring an additional 20,182 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of CNB Financial by 11.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank’s stock valued at $3,749,000 after acquiring an additional 15,714 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of CNB Financial during the 4th quarter valued at about $285,000. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th.

CNB Financial Price Performance

CCNE opened at $24.07 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $505.33 million, a P/E ratio of 10.11 and a beta of 0.71. The stock has a 50-day moving average price of $25.06 and a 200-day moving average price of $25.29. CNB Financial Co. has a 12-month low of $17.74 and a 12-month high of $29.29.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. Equities analysts predict that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, February 28th. CNB Financial’s dividend payout ratio is currently 30.25%.

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.