Connor Clark & Lunn Investment Management Ltd. Has $1.23 Million Holdings in CNB Financial Co. (NASDAQ:CCNE)

Connor Clark & Lunn Investment Management Ltd. grew its position in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 85.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,349 shares of the bank's stock after buying an additional 22,758 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of CNB Financial worth $1,227,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CCNE. SG Americas Securities LLC grew its holdings in shares of CNB Financial by 17.4% in the 4th quarter. SG Americas Securities LLC now owns 8,808 shares of the bank's stock valued at $219,000 after buying an additional 1,305 shares during the period. PDT Partners LLC acquired a new position in CNB Financial in the 3rd quarter worth $221,000. Los Angeles Capital Management LLC acquired a new position in CNB Financial in the 4th quarter worth $285,000. Franklin Resources Inc. boosted its stake in CNB Financial by 95.1% in the 3rd quarter. Franklin Resources Inc. now owns 22,032 shares of the bank's stock worth $530,000 after purchasing an additional 10,737 shares during the period. Finally, Bailard Inc. boosted its stake in CNB Financial by 61.8% in the 4th quarter. Bailard Inc. now owns 25,653 shares of the bank's stock worth $638,000 after purchasing an additional 9,798 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

CNB Financial Stock Down 2.0 %

Shares of CNB Financial stock traded down $0.46 during trading hours on Friday, reaching $22.16. 169,398 shares of the company's stock were exchanged, compared to its average volume of 52,985. The company has a 50 day moving average of $24.60 and a two-hundred day moving average of $25.17. 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 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 cap of $464.92 million, a P/E ratio of 9.31 and a beta of 0.65.

Remove Ads

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. On average, sell-side analysts forecast that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued 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 dividend yield of 3.25%. CNB Financial's payout ratio is 30.25%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CCNE. StockNews.com lowered shares of CNB Financial from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods reduced 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 research note on Monday, January 13th.

About CNB Financial

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.