CNB Financial Corp (CCNE) Stake Lessened by LSV Asset Management

LSV Asset Management lowered its stake in shares of CNB Financial Corp (NASDAQ:CCNE) by 10.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,049 shares of the bank’s stock after selling 17,600 shares during the quarter. LSV Asset Management’s holdings in CNB Financial were worth $4,474,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of CNB Financial by 3.5% during the second quarter. BlackRock Inc. now owns 745,408 shares of the bank’s stock valued at $22,406,000 after acquiring an additional 24,915 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of CNB Financial by 19.7% during the second quarter. First Trust Advisors LP now owns 37,889 shares of the bank’s stock valued at $1,139,000 after acquiring an additional 6,233 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CNB Financial by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 509,416 shares of the bank’s stock valued at $15,314,000 after acquiring an additional 38,942 shares in the last quarter. Northern Trust Corp increased its holdings in shares of CNB Financial by 40.5% during the second quarter. Northern Trust Corp now owns 262,367 shares of the bank’s stock valued at $7,887,000 after acquiring an additional 75,580 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in shares of CNB Financial by 7.5% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 208,035 shares of the bank’s stock valued at $6,004,000 after acquiring an additional 14,489 shares in the last quarter. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Shares of NASDAQ:CCNE opened at $25.90 on Friday. CNB Financial Corp has a twelve month low of $25.25 and a twelve month high of $32.86. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $395.82 million, a P/E ratio of 12.73 and a beta of 0.75.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Friday, October 19th. The bank reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. CNB Financial had a net margin of 19.33% and a return on equity of 12.58%. The company had revenue of $32.81 million for the quarter, compared to the consensus estimate of $31.80 million. On average, analysts forecast that CNB Financial Corp will post 2.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.63%. CNB Financial’s dividend payout ratio (DPR) is presently 38.42%.

Several equities analysts have recently issued reports on CCNE shares. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, October 24th. Boenning Scattergood reiterated a “buy” rating on shares of CNB Financial in a report on Monday, October 22nd. BidaskClub upgraded shares of CNB Financial from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Finally, ValuEngine downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $31.17.

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CNB Financial Company 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. It 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.

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Institutional Ownership by Quarter for CNB Financial (NASDAQ:CCNE)

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