CNB Financial Co. (NASDAQ:CCNE) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its holdings in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 150,309 shares of the bank's stock after acquiring an additional 24,883 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.72% of CNB Financial worth $3,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in CNB Financial in the 3rd quarter worth approximately $640,000. Unison Advisors LLC purchased a new position in shares of CNB Financial in the third quarter valued at $692,000. Dimensional Fund Advisors LP grew its holdings in CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank's stock valued at $19,280,000 after purchasing an additional 24,666 shares in the last quarter. Franklin Resources Inc. grew its holdings in CNB Financial by 95.1% during the 3rd 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 in the last quarter. Finally, Creative Planning increased its stake in CNB Financial by 82.3% during the 3rd quarter. Creative Planning now owns 18,440 shares of the bank's stock worth $444,000 after buying an additional 8,327 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

CNB Financial Stock Up 0.3 %

Shares of CNB Financial stock traded up $0.08 on Wednesday, hitting $23.89. 176,107 shares of the company's stock traded hands, compared to its average volume of 90,167. CNB Financial Co. has a 52-week low of $17.74 and a 52-week high of $29.29. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The stock has a market cap of $501.55 million, a P/E ratio of 10.21 and a beta of 0.71. The firm's 50-day moving average is $26.55 and its 200 day moving average is $24.64.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.04. The firm had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. Equities analysts anticipate that CNB Financial Co. will post 2.3 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 3.01%. CNB Financial's dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

A number of equities analysts have weighed in on CCNE shares. StockNews.com cut shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods cut their price target on CNB Financial from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Monday.

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.