LSV Asset Management Has $2.64 Million Stock Position in CNB Financial Co. (NASDAQ:CCNE)

LSV Asset Management trimmed its holdings in shares of CNB Financial Co. (NASDAQ:CCNE) by 5.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,060 shares of the bank’s stock after selling 6,500 shares during the period. LSV Asset Management owned approximately 0.56% of CNB Financial worth $2,644,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCNE. New York State Common Retirement Fund raised its stake in shares of CNB Financial by 14.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock valued at $178,000 after acquiring an additional 1,006 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of CNB Financial in the third quarter valued at approximately $160,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of CNB Financial in the fourth quarter worth $212,000. GSA Capital Partners LLP boosted its holdings in shares of CNB Financial by 78.3% during the 3rd quarter. GSA Capital Partners LLP now owns 75,336 shares of the bank’s stock worth $1,364,000 after buying an additional 33,088 shares during the period. Finally, North Reef Capital Management LP boosted its holdings in shares of CNB Financial by 2.6% during the 3rd quarter. North Reef Capital Management LP now owns 81,244 shares of the bank’s stock worth $1,471,000 after buying an additional 2,059 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Performance

CCNE opened at $20.04 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $19.63 and its two-hundred day moving average price is $20.45. The firm has a market capitalization of $420.92 million, a P/E ratio of 8.42 and a beta of 0.77. CNB Financial Co. has a 12-month low of $16.43 and a 12-month high of $23.40.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, April 15th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. CNB Financial had a return on equity of 10.73% and a net margin of 15.96%. The company had revenue of $54.18 million during the quarter, compared to analysts’ expectations of $55.00 million. On average, equities analysts forecast that CNB Financial Co. will post 2.23 earnings per share for the current year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.175 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.70 annualized dividend and a yield of 3.49%. CNB Financial’s dividend payout ratio is 29.41%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods dropped their target price on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a report on Wednesday, April 17th.

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.