Royce & Associates LP cut its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 16.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,018 shares of the bank's stock after selling 78,192 shares during the period. Royce & Associates LP owned approximately 1.85% of CNB Financial worth $9,336,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of CCNE. Vanguard Group Inc. boosted its stake in shares of CNB Financial by 1.5% during 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. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 24,666 shares during the last quarter. American Century Companies Inc. increased its position in CNB Financial by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank's stock valued at $7,289,000 after purchasing an additional 51,080 shares during the period. Bank of New York Mellon Corp raised its holdings in CNB Financial by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank's stock worth $2,698,000 after purchasing an additional 4,973 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of CNB Financial by 73.9% in the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank's stock worth $604,000 after purchasing an additional 12,589 shares during the period. Institutional investors own 52.35% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com downgraded shares of CNB Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, October 30th.
View Our Latest Analysis on CNB Financial
CNB Financial Trading Down 1.2 %
NASDAQ CCNE traded down $0.32 during trading hours on Monday, hitting $27.31. 44,556 shares of the company's stock were exchanged, compared to its average volume of 46,708. The firm has a market cap of $573.24 million, a price-to-earnings ratio of 11.81 and a beta of 0.68. The stock has a 50-day simple moving average of $24.91 and a 200 day simple moving average of $22.66. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. CNB Financial Co. has a 1-year low of $17.74 and a 1-year high of $29.29.
CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. The company had revenue of $94.21 million during the quarter, compared to the consensus estimate of $55.40 million. On average, equities analysts forecast that CNB Financial Co. will post 2.3 EPS for the current fiscal year.
CNB Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 29th. CNB Financial's dividend payout ratio is currently 30.77%.
CNB Financial Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider CNB Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and CNB Financial wasn't on the list.
While CNB Financial currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
