Vanguard Group Inc. Has $27.47 Million Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

Vanguard Group Inc. lessened its holdings in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,104,899 shares of the bank's stock after selling 60,242 shares during the period. Vanguard Group Inc. owned about 5.26% of CNB Financial worth $27,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CCNE. State Street Corp grew its position 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 boosted its position in shares of CNB Financial by 274.7% during the 3rd quarter. Barclays PLC now owns 27,528 shares of the bank's stock worth $663,000 after acquiring an additional 20,182 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CNB Financial by 2.0% in the third 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 in the last quarter. Franklin Resources Inc. lifted its stake in shares of CNB Financial by 95.1% in the third quarter. Franklin Resources Inc. now owns 22,032 shares of the bank's stock valued at $530,000 after purchasing an additional 10,737 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in CNB Financial by 11.2% in the third quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank's stock valued at $3,749,000 after buying an additional 15,714 shares in the last quarter. Institutional investors own 52.35% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Stephens initiated coverage on shares of CNB Financial in a research note on Monday. They issued an "overweight" rating and a $26.50 target price for the company. Finally, Keefe, Bruyette & Woods lowered their price target on shares of CNB Financial from $27.00 to $25.00 and set a "market perform" rating for the company in a report on Wednesday.

CNB Financial Stock Up 0.6 %

Shares of CCNE stock traded up $0.13 during trading hours on Friday, hitting $21.37. 90,927 shares of the company were exchanged, compared to its average volume of 58,401. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The stock has a market capitalization of $448.34 million, a price-to-earnings ratio of 8.98 and a beta of 0.53. CNB Financial Co. has a one year low of $18.03 and a one year high of $29.29. The business's 50-day simple moving average is $23.13 and its two-hundred day simple moving average is $24.81.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The business had revenue of $57.55 million for the quarter, compared to the consensus estimate of $54.05 million. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. Sell-side analysts predict that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.37%. CNB Financial's dividend payout ratio (DPR) is presently 30.90%.

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.