JPMorgan Chase & Co. Acquires 15,714 Shares of CNB Financial Co. (NASDAQ:CCNE)

JPMorgan Chase & Co. grew its holdings in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,801 shares of the bank's stock after buying an additional 15,714 shares during the quarter. JPMorgan Chase & Co. owned 0.74% of CNB Financial worth $3,749,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its holdings in CNB Financial by 131.1% in the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank's stock worth $188,000 after acquiring an additional 5,263 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of CNB Financial by 16.7% in the second quarter. American Century Companies Inc. now owns 357,127 shares of the bank's stock valued at $7,289,000 after buying an additional 51,080 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank's stock valued at $19,280,000 after purchasing an additional 24,666 shares in the last quarter. AQR Capital Management LLC grew its position in CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank's stock worth $215,000 after buying an additional 568 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of CNB Financial during the third quarter worth $181,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com lowered CNB Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their target price on CNB Financial from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Monday, January 13th.

CNB Financial Trading Up 1.3 %

Shares of CNB Financial stock traded up $0.32 during trading on Friday, hitting $24.31. 107,018 shares of the company were exchanged, compared to its average volume of 40,139. The firm's fifty day moving average price is $26.30 and its 200 day moving average price is $24.69. 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 firm has a market capitalization of $510.36 million, a P/E ratio of 10.39 and a beta of 0.71. CNB Financial Co. has a 1-year low of $17.74 and a 1-year high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. As a group, sell-side analysts expect 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. Investors of record on Friday, November 29th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, November 29th. CNB Financial's dividend payout ratio (DPR) is presently 30.77%.

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.