Michael D. Peduzzi Purchases 2,500 Shares of CNB Financial Co. (NASDAQ:CCNE) Stock

CNB Financial Co. (NASDAQ:CCNE – Get Rating) COO Michael D. Peduzzi acquired 2,500 shares of the firm’s stock in a transaction dated Friday, April 22nd. The stock was bought at an average price of $26.75 per share, with a total value of $66,875.00. Following the completion of the acquisition, the chief operating officer now directly owns 13,845 shares of the company’s stock, valued at $370,353.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of NASDAQ:CCNE traded down $0.18 during mid-day trading on Monday, hitting $26.05. The stock had a trading volume of 649 shares, compared to its average volume of 27,452. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $440.53 million, a P/E ratio of 8.05 and a beta of 0.92. CNB Financial Co. has a 12-month low of $22.08 and a 12-month high of $28.59. The firm’s 50 day simple moving average is $26.23.

CNB Financial (NASDAQ:CCNE – Get Rating) last issued its quarterly earnings results on Monday, April 18th. The bank reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.09. CNB Financial had a net margin of 27.16% and a return on equity of 15.51%. As a group, equities research analysts anticipate that CNB Financial Co. will post 3.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 1st were paid a $0.175 dividend. The ex-dividend date was Monday, February 28th. This represents a $0.70 annualized dividend and a yield of 2.69%. CNB Financial’s dividend payout ratio is presently 21.74%.

CCNE has been the subject of several recent research reports. Zacks Investment Research raised shares of CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday, April 20th. StockNews.com initiated coverage on shares of CNB Financial in a research note on Thursday, March 31st. They set a “buy” rating for the company.

Institutional investors have recently added to or reduced their stakes in the business. BHZ Capital Management LP increased its stake in CNB Financial by 17.6% in the 4th quarter. BHZ Capital Management LP now owns 46,709 shares of the bank’s stock valued at $1,238,000 after buying an additional 6,997 shares during the period. Pekin Hardy Strauss Inc. acquired a new position in CNB Financial in the 3rd quarter valued at approximately $2,239,000. Two Sigma Advisers LP increased its stake in CNB Financial by 12.0% in the 3rd quarter. Two Sigma Advisers LP now owns 43,837 shares of the bank’s stock valued at $1,067,000 after buying an additional 4,700 shares during the period. American Century Companies Inc. increased its stake in CNB Financial by 14.1% in the 3rd quarter. American Century Companies Inc. now owns 39,824 shares of the bank’s stock valued at $969,000 after buying an additional 4,933 shares during the period. Finally, Barclays PLC increased its stake in CNB Financial by 222.9% in the 3rd quarter. Barclays PLC now owns 6,572 shares of the bank’s stock valued at $159,000 after buying an additional 4,537 shares during the period. Hedge funds and other institutional investors own 41.95% of the company’s stock.

About CNB Financial (Get Rating)

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.

Further Reading