30,900 Shares in CNB Financial Corporation $CCNE Acquired by Bailard Inc.

Bailard Inc. purchased a new position in shares of CNB Financial Corporation (NASDAQ:CCNE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 30,900 shares of the bank’s stock, valued at approximately $748,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peoples Financial Services CORP. acquired a new position in shares of CNB Financial in the third quarter valued at $28,000. Tower Research Capital LLC TRC raised its holdings in CNB Financial by 46.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after acquiring an additional 636 shares in the last quarter. CWM LLC increased its holdings in CNB Financial by 230.2% in the 3rd quarter. CWM LLC now owns 4,458 shares of the bank’s stock valued at $108,000 after buying an additional 3,108 shares during the period. The Manufacturers Life Insurance Company acquired a new position in CNB Financial during the second quarter valued at approximately $215,000. Finally, Quantinno Capital Management LP bought a new stake in shares of CNB Financial during the 2nd quarter worth $260,000. 52.35% of the stock is owned by institutional investors.

CNB Financial Trading Down 3.8%

Shares of CCNE opened at $27.09 on Friday. The business has a 50-day moving average of $26.50 and a 200 day moving average of $25.26. CNB Financial Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $28.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $798.61 million, a P/E ratio of 13.61 and a beta of 0.73.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. CNB Financial had a return on equity of 10.38% and a net margin of 11.92%.The company had revenue of $77.70 million for the quarter, compared to analyst estimates of $68.50 million. As a group, research analysts forecast that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. CNB Financial’s dividend payout ratio is 36.18%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCNE. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. Finally, Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, CNB Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.75.

CNB Financial Profile

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.