CNB Bank Sells 1,526 Shares of CNB Financial Co. (NASDAQ:CCNE)

CNB Bank decreased its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 166,257 shares of the bank’s stock after selling 1,526 shares during the period. CNB Financial accounts for about 1.9% of CNB Bank’s portfolio, making the stock its 7th largest holding. CNB Bank’s holdings in CNB Financial were worth $4,133,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of CNB Financial by 19.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank’s stock valued at $3,616,000 after purchasing an additional 24,883 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in CNB Financial in the 3rd quarter valued at $640,000. Unison Advisors LLC acquired a new position in CNB Financial in the 3rd quarter valued at $692,000. Dimensional Fund Advisors LP grew its holdings in CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after buying an additional 24,666 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in CNB Financial by 95.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,032 shares of the bank’s stock worth $530,000 after buying an additional 10,737 shares during the period. 52.35% of the stock is owned by institutional investors.

CNB Financial Stock Up 1.6 %

Shares of NASDAQ CCNE opened at $24.36 on Friday. The company has a market cap of $511.40 million, a price-to-earnings ratio of 10.41 and a beta of 0.71. 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 50-day moving average price of $26.37 and a two-hundred day moving average price of $24.63. CNB Financial Co. has a 12 month low of $17.74 and a 12 month high of $29.29.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The firm had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. As a group, analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.96%. CNB Financial’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Monday. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

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.