Emerald Advisers LLC Sells 47,850 Shares of CNB Financial Co. (NASDAQ:CCNE)

Emerald Advisers LLC lowered its position in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) by 46.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,119 shares of the bank's stock after selling 47,850 shares during the quarter. Emerald Advisers LLC owned 0.27% of CNB Financial worth $1,395,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in CNB Financial by 19.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank's stock worth $3,616,000 after purchasing an additional 24,883 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of CNB Financial in the third quarter worth $640,000. Barclays PLC grew its holdings in shares of CNB Financial by 274.7% during the third quarter. Barclays PLC now owns 27,528 shares of the bank's stock valued at $663,000 after buying an additional 20,182 shares in the last quarter. Franklin Resources Inc. raised its position in CNB Financial by 95.1% during the third quarter. Franklin Resources Inc. now owns 22,032 shares of the bank's stock valued at $530,000 after buying an additional 10,737 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in CNB Financial by 11.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank's stock worth $3,749,000 after acquiring an additional 15,714 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

CNB Financial Stock Down 2.5 %

Shares of NASDAQ CCNE traded down $0.57 during mid-day trading on Friday, reaching $22.26. The company had a trading volume of 54,104 shares, compared to its average volume of 55,294. The stock has a market capitalization of $467.01 million, a PE ratio of 9.35 and a beta of 0.65. CNB Financial Co. has a twelve month low of $17.74 and a twelve month high of $29.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The stock's 50 day moving average is $24.47 and its 200-day moving average is $25.14.

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CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, topping 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 analysts anticipate that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, February 28th. CNB Financial's dividend payout ratio (DPR) is 30.25%.

Analyst Ratings Changes

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

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.