American Century Companies Inc. Increases Position in CNB Financial Co. (NASDAQ:CCNE)

American Century Companies Inc. boosted its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,640 shares of the bank's stock after acquiring an additional 53,661 shares during the period. American Century Companies Inc. owned about 2.17% of CNB Financial worth $11,327,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in shares of CNB Financial during the fourth quarter worth about $203,000. SG Americas Securities LLC increased its position in CNB Financial by 17.4% during the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank's stock worth $219,000 after buying an additional 1,305 shares during the period. PDT Partners LLC purchased a new stake in CNB Financial in the third quarter valued at approximately $221,000. Summit Global Investments acquired a new stake in shares of CNB Financial in the fourth quarter valued at approximately $247,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of CNB Financial during the fourth quarter worth approximately $285,000. Institutional investors and hedge funds own 52.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CCNE shares. Keefe, Bruyette & Woods reduced their price target on shares of CNB Financial from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Monday, January 13th. StockNews.com downgraded shares of CNB Financial from a "buy" rating to a "hold" rating in a research note on Friday, February 14th.

CNB Financial Stock Performance

Shares of NASDAQ:CCNE traded down $0.31 during trading on Friday, reaching $20.27. The company had a trading volume of 84,971 shares, compared to its average volume of 56,010. CNB Financial Co. has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The stock's fifty day moving average price is $24.14 and its 200 day moving average price is $25.07. The firm has a market capitalization of $425.26 million, a price-to-earnings ratio of 8.52 and a beta of 0.53.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. As a group, equities research analysts predict that CNB Financial Co. will post 2.04 EPS for the current year.

CNB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.55%. CNB Financial's 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.