CNB Financial (NASDAQ:CCNE) Trading Down 4% - Should You Sell?

CNB Financial Co. (NASDAQ:CCNE - Get Free Report) dropped 4% on Thursday . The company traded as low as $24.46 and last traded at $24.46. Approximately 1,284 shares were traded during trading, a decline of 97% from the average daily volume of 45,058 shares. The stock had previously closed at $25.47.

Wall Street Analysts Forecast Growth

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

CNB Financial Trading Up 0.0 %

The stock has a market cap of $535.18 million, a PE ratio of 10.70 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The company's 50-day moving average price is $23.86 and its 200 day moving average price is $21.71.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The company had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. On average, sell-side analysts forecast that CNB Financial Co. will post 2.25 EPS for the current fiscal year.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.18 per share. The ex-dividend date was Friday, August 30th. This is a boost from CNB Financial's previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.83%. CNB Financial's dividend payout ratio (DPR) is currently 30.25%.

Institutional Trading of CNB Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in shares of CNB Financial by 16.7% in the 2nd 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. Unison Advisors LLC acquired a new stake in shares of CNB Financial during the third quarter worth about $692,000. Dimensional Fund Advisors LP grew its holdings in shares of CNB Financial by 2.7% in the second 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. Vanguard Group Inc. grew its holdings in shares of CNB Financial by 1.5% in the first quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank's stock valued at $21,463,000 after purchasing an additional 15,870 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in CNB Financial by 73.9% during the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank's stock worth $604,000 after buying an additional 12,589 shares during the period. Hedge funds and other institutional investors own 52.35% of the company's stock.

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.