Thrivent Financial for Lutherans Has $244,000 Position in CNB Financial Corporation $CCNE

Thrivent Financial for Lutherans lessened its stake in shares of CNB Financial Corporation (NASDAQ:CCNE) by 67.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,090 shares of the bank’s stock after selling 21,350 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CNB Financial were worth $244,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CNB Financial by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock valued at $273,000 after acquiring an additional 546 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of CNB Financial by 46.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of CNB Financial by 6.1% during the second quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock worth $306,000 after purchasing an additional 765 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of CNB Financial by 0.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 121,225 shares of the bank’s stock valued at $2,947,000 after buying an additional 934 shares during the period. Finally, Peoples Financial Services CORP. bought a new position in CNB Financial in the 3rd quarter valued at approximately $28,000. 52.35% of the stock is currently owned by institutional investors.

CNB Financial Stock Performance

CCNE stock opened at $29.49 on Thursday. The firm has a market cap of $869.37 million, a PE ratio of 12.14 and a beta of 0.73. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average price of $27.52 and a 200-day moving average price of $25.89. CNB Financial Corporation has a 1-year low of $19.32 and a 1-year high of $30.84.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Tuesday, January 27th. The bank reported $0.87 EPS for the quarter, topping the consensus estimate of $0.77 by $0.10. CNB Financial had a return on equity of 11.83% and a net margin of 15.29%.The business had revenue of $87.16 million during the quarter, compared to analysts’ expectations of $73.10 million. As a group, equities research analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s dividend payout ratio is presently 29.63%.

Wall Street Analysts Forecast Growth

CCNE has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. Wall Street Zen downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Janney Montgomery Scott raised CNB Financial to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Stephens upped their price target on CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

About CNB Financial

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.