Royce & Associates LP grew its position in CNB Financial Corp (NASDAQ:CCNE) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 733,935 shares of the bank’s stock after purchasing an additional 17,868 shares during the quarter. Royce & Associates LP owned approximately 4.81% of CNB Financial worth $23,985,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in CCNE. Swiss National Bank bought a new position in shares of CNB Financial in the fourth quarter valued at approximately $902,000. State Street Corp raised its position in shares of CNB Financial by 6.3% in the fourth quarter. State Street Corp now owns 283,995 shares of the bank’s stock valued at $9,281,000 after purchasing an additional 16,786 shares during the period. California Public Employees Retirement System raised its position in shares of CNB Financial by 43.6% in the third quarter. California Public Employees Retirement System now owns 43,156 shares of the bank’s stock valued at $1,239,000 after purchasing an additional 13,093 shares during the period. Wedge Capital Management L L P NC raised its position in shares of CNB Financial by 94.8% in the third quarter. Wedge Capital Management L L P NC now owns 26,210 shares of the bank’s stock valued at $752,000 after purchasing an additional 12,753 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of CNB Financial in the third quarter valued at approximately $246,000. 44.34% of the stock is currently owned by institutional investors.
CCNE has been the topic of a number of recent analyst reports. BidaskClub lowered shares of CNB Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 25th. Janney Montgomery Scott initiated coverage on shares of CNB Financial in a research report on Tuesday, January 7th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research lowered shares of CNB Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.50.
CCNE stock traded down $0.50 on Friday, reaching $29.05. 317 shares of the company were exchanged, compared to its average volume of 22,977. CNB Financial Corp has a 12 month low of $23.40 and a 12 month high of $33.78. The stock’s fifty day moving average price is $31.02 and its 200 day moving average price is $29.99. The firm has a market capitalization of $450.58 million, a PE ratio of 11.05 and a beta of 0.96. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.96 and a quick ratio of 0.96.
CNB Financial (NASDAQ:CCNE) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.69 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.69. CNB Financial had a net margin of 22.06% and a return on equity of 14.00%. The business had revenue of $36.50 million for the quarter, compared to analyst estimates of $37.09 million. As a group, research analysts expect that CNB Financial Corp will post 2.44 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, February 27th. CNB Financial’s dividend payout ratio (DPR) is currently 25.86%.
CNB Financial Company 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.
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