Emerald Advisers LLC Has $2.50 Million Position in CNB Financial Co. (NASDAQ:CCNE)

Emerald Advisers LLC cut its position in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,969 shares of the bank's stock after selling 40,000 shares during the quarter. Emerald Advisers LLC owned about 0.49% of CNB Financial worth $2,501,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of CNB Financial during the first quarter valued at about $81,000. SG Americas Securities LLC bought a new stake in shares of CNB Financial during the 3rd quarter worth about $181,000. AQR Capital Management LLC lifted its stake in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank's stock worth $215,000 after acquiring an additional 568 shares during the period. Beese Fulmer Investment Management Inc. acquired a new position in shares of CNB Financial during the third quarter valued at approximately $226,000. Finally, Creative Planning increased its stake in shares of CNB Financial by 82.3% during the third quarter. Creative Planning now owns 18,440 shares of the bank's stock valued at $444,000 after acquiring an additional 8,327 shares during the period. 52.35% of the stock is currently owned by institutional investors.

CNB Financial Price Performance

CNB Financial stock traded up $0.22 during mid-day trading on Monday, hitting $25.50. The company's stock had a trading volume of 39,709 shares, compared to its average volume of 45,147. The stock has a market capitalization of $535.45 million, a P/E ratio of 10.90 and a beta of 0.68. CNB Financial Co. has a twelve month low of $17.74 and a twelve month high of $26.87. The stock's fifty day moving average price is $24.17 and its two-hundred day moving average price is $22.05. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.04. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.27% and a net margin of 14.90%. Research analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.82%. This is a positive change from CNB Financial's previous quarterly dividend of $0.18. CNB Financial's payout ratio is currently 30.77%.

Analyst Ratings Changes

Separately, StockNews.com cut CNB Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th.

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.