Unison Advisors LLC Acquires New Shares in CNB Financial Co. (NASDAQ:CCNE)

Unison Advisors LLC purchased a new position in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 28,750 shares of the bank's stock, valued at approximately $692,000. Unison Advisors LLC owned 0.14% of CNB Financial as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its holdings 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 valued at $215,000 after buying an additional 568 shares during the last quarter. BHZ Capital Management LP increased its holdings in CNB Financial by 1.4% during the 4th quarter. BHZ Capital Management LP now owns 57,904 shares of the bank's stock worth $1,308,000 after purchasing an additional 791 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of CNB Financial by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank's stock worth $200,000 after purchasing an additional 2,599 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of CNB Financial in the first quarter valued at approximately $81,000. Finally, Empowered Funds LLC boosted its position in shares of CNB Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 60,792 shares of the bank's stock valued at $1,240,000 after buying an additional 4,550 shares during the last quarter. Institutional investors own 52.35% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut CNB Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, August 21st.

CNB Financial Stock Performance

Shares of NASDAQ CCNE traded down $0.03 during midday trading on Thursday, reaching $23.13. The company's stock had a trading volume of 22,542 shares, compared to its average volume of 45,635. The stock has a market capitalization of $485.82 million, a P/E ratio of 9.72 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. The firm has a 50 day moving average price of $23.44 and a 200-day moving average price of $21.40. CNB Financial Co. has a 12-month low of $17.45 and a 12-month high of $26.87.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.05. The firm had revenue of $89.52 million during the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. As a group, equities analysts predict that CNB Financial Co. will post 2.25 earnings per share for the current year.

CNB Financial Increases Dividend

The business 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 a positive change from CNB Financial's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.72 annualized dividend and a yield of 3.11%. CNB Financial's payout ratio is currently 30.25%.

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.