Dimensional Fund Advisors LP Buys 23,544 Shares of CNB Financial Co. (NASDAQ:CCNE)

Dimensional Fund Advisors LP boosted its holdings in shares of CNB Financial Co. (NASDAQ:CCNE – Get Rating) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 680,448 shares of the bank’s stock after buying an additional 23,544 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.22% of CNB Financial worth $16,038,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its holdings in CNB Financial by 58.7% during the third quarter. Barclays PLC now owns 1,282 shares of the bank’s stock valued at $30,000 after purchasing an additional 474 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of CNB Financial by 4.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,871 shares of the bank’s stock worth $279,000 after buying an additional 478 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of CNB Financial by 0.9% in the third quarter. Prudential Financial Inc. now owns 54,087 shares of the bank’s stock worth $1,274,000 after buying an additional 500 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of CNB Financial by 23.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,660 shares of the bank’s stock worth $64,000 after buying an additional 510 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of CNB Financial by 9.8% in the first quarter. First Trust Advisors LP now owns 8,605 shares of the bank’s stock worth $226,000 after buying an additional 766 shares in the last quarter. Hedge funds and other institutional investors own 52.68% of the company’s stock.

CNB Financial Price Performance

CCNE stock opened at $23.51 on Thursday. CNB Financial Co. has a one year low of $22.98 and a one year high of $28.50. The company’s fifty day moving average price is $23.91 and its 200-day moving average price is $24.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.91 and a current ratio of 0.92. The company has a market capitalization of $496.53 million, a PE ratio of 7.15 and a beta of 0.85.

CNB Financial (NASDAQ:CCNE – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The bank reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.04). CNB Financial had a return on equity of 15.18% and a net margin of 25.43%. The business had revenue of $59.84 million during the quarter, compared to the consensus estimate of $59.80 million. On average, equities analysts anticipate that CNB Financial Co. will post 3.06 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, February 28th. CNB Financial’s payout ratio is presently 21.28%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th.

Insider Transactions at CNB Financial

In related news, CEO Michael D. Peduzzi purchased 1,372 shares of the business’s stock in a transaction dated Wednesday, January 25th. The shares were purchased at an average cost of $23.30 per share, for a total transaction of $31,967.60. Following the completion of the acquisition, the chief executive officer now owns 17,345 shares in the company, valued at approximately $404,138.50. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have purchased 1,993 shares of company stock worth $46,853. Insiders own 3.09% of the company’s stock.

About CNB Financial

(Get Rating)

CNB Financial Corp. is a financial holding company, which engages in the provision of banking and financial solutions. It offers deposit accounts, private banking, real estate, commercial, industrial, residential and consumer loans, lines of credit, credit cards, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.