BlackRock Inc. raised its stake in DNB Financial Corp (NASDAQ:DNBF) by 12,790.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 162,294 shares of the financial services provider’s stock after buying an additional 161,035 shares during the quarter. BlackRock Inc.’s holdings in DNB Financial were worth $7,218,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wells Fargo & Company MN increased its position in DNB Financial by 9.5% in the 2nd quarter. Wells Fargo & Company MN now owns 5,491 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 475 shares in the last quarter. Chicago Capital Management LLC acquired a new stake in DNB Financial in the 2nd quarter valued at about $79,000. Northern Trust Corp increased its position in DNB Financial by 29.3% in the 2nd quarter. Northern Trust Corp now owns 20,613 shares of the financial services provider’s stock valued at $916,000 after acquiring an additional 4,677 shares in the last quarter. Renaissance Technologies LLC increased its position in DNB Financial by 44.7% in the 2nd quarter. Renaissance Technologies LLC now owns 26,800 shares of the financial services provider’s stock valued at $1,192,000 after acquiring an additional 8,275 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in DNB Financial in the 2nd quarter valued at about $375,000. Hedge funds and other institutional investors own 38.15% of the company’s stock.
DNBF opened at $45.15 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $190.12 million, a PE ratio of 18.21 and a beta of 0.89. DNB Financial Corp has a 1-year low of $25.84 and a 1-year high of $46.86. The firm has a 50-day moving average price of $43.87 and a two-hundred day moving average price of $42.70.
Several equities research analysts have weighed in on DNBF shares. Zacks Investment Research cut shares of DNB Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. ValuEngine cut shares of DNB Financial from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st.
DNB Financial Company Profile
DNB Financial Corporation operates as the bank holding company for DNB First, National Association that provides a range of commercial banking products and services to individuals and small to medium sized businesses. The company offers deposit products, including money market, savings, demand, and NOW accounts; and time deposits, as well as certificates of deposit, including IRAs and brokered deposits.
Recommended Story: Inverted Yield Curve
Want to see what other hedge funds are holding DNBF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DNB Financial Corp (NASDAQ:DNBF).
Receive News & Ratings for DNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.