Thrivent Financial for Lutherans Sells 15,391 Shares of CNB Financial Co. (NASDAQ:CCNE)

Thrivent Financial for Lutherans lessened its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 32.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,460 shares of the bank's stock after selling 15,391 shares during the period. Thrivent Financial for Lutherans owned 0.15% of CNB Financial worth $782,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CCNE. PDT Partners LLC bought a new stake in shares of CNB Financial during the third quarter worth $221,000. Hotchkis & Wiley Capital Management LLC raised its holdings in CNB Financial by 0.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank's stock worth $3,460,000 after purchasing an additional 390 shares during the last quarter. State Street Corp raised its holdings in CNB Financial by 2.2% during the 3rd quarter. State Street Corp now owns 424,579 shares of the bank's stock worth $10,215,000 after purchasing an additional 8,942 shares during the last quarter. Barclays PLC lifted its position in CNB Financial by 274.7% during the 3rd quarter. Barclays PLC now owns 27,528 shares of the bank's stock valued at $663,000 after purchasing an additional 20,182 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of CNB Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 474,032 shares of the bank's stock valued at $11,408,000 after purchasing an additional 9,359 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

Analysts Set New Price Targets

CCNE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods dropped their price target on shares of CNB Financial from $30.00 to $28.00 and set a "market perform" rating for the company in a research note on Monday, January 13th. StockNews.com cut shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th.

CNB Financial Trading Up 1.0 %

NASDAQ:CCNE traded up $0.21 during mid-day trading on Monday, hitting $20.48. The company had a trading volume of 104,247 shares, compared to its average volume of 56,202. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. CNB Financial Co. has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The firm has a market cap of $429.67 million, a P/E ratio of 8.61 and a beta of 0.53. The business's fifty day moving average is $24.04 and its two-hundred day moving average is $25.04.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. As a group, research analysts expect that CNB Financial Co. will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, February 28th. CNB Financial's dividend payout ratio (DPR) is 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.