Short Interest in CNB Financial Co. (NASDAQ:CCNE) Decreases By 25.9%

CNB Financial Co. (NASDAQ:CCNE - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 59,700 shares, a decrease of 25.9% from the September 30th total of 80,600 shares. Based on an average trading volume of 42,200 shares, the short-interest ratio is currently 1.4 days.

CNB Financial Trading Down 1.6 %

CCNE stock traded down $0.42 during trading on Tuesday, reaching $25.58. 35,066 shares of the stock traded hands, compared to its average volume of 45,240. The business's 50 day moving average price is $24.06 and its 200-day moving average price is $21.90. The firm has a market capitalization of $537.28 million, a PE ratio of 10.75 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. CNB Financial has a 52-week low of $17.74 and a 52-week high of $26.87.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. The company had revenue of $94.21 million during the quarter, compared to the consensus estimate of $55.40 million. As a group, sell-side analysts forecast that CNB Financial will post 2.25 earnings per share for the current year.

CNB Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a $0.18 dividend. This is an increase from CNB Financial's previous quarterly dividend of $0.18. The ex-dividend date was Friday, August 30th. This represents a $0.72 annualized dividend and a yield of 2.81%. CNB Financial's dividend payout ratio (DPR) is 30.25%.

Institutional Investors Weigh In On CNB Financial

A number of large investors have recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. purchased a new stake in shares of CNB Financial during the third quarter worth about $226,000. Creative Planning increased its holdings in CNB Financial by 82.3% during the 3rd quarter. Creative Planning now owns 18,440 shares of the bank's stock worth $444,000 after purchasing an additional 8,327 shares during the last quarter. Unison Advisors LLC acquired a new position in shares of CNB Financial in the 3rd quarter valued at approximately $692,000. SG Americas Securities LLC purchased a new position in shares of CNB Financial during the 3rd quarter valued at approximately $181,000. Finally, AQR Capital Management LLC grew its position in shares of CNB Financial by 5.7% during 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 in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded CNB Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd.

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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