Wealth Enhancement Advisory Services LLC increased its holdings in shares of CNB Financial Co. (NASDAQ:CCNE – Free Report) by 19.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,309 shares of the bank’s stock after purchasing an additional 24,883 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.72% of CNB Financial worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC bought a new position in shares of CNB Financial during the 3rd quarter valued at $181,000. PDT Partners LLC bought a new stake in shares of CNB Financial in the third quarter worth $221,000. Acadian Asset Management LLC increased its position in CNB Financial by 131.1% during the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank’s stock valued at $188,000 after acquiring an additional 5,263 shares during the last quarter. Beese Fulmer Investment Management Inc. bought a new position in CNB Financial in the third quarter valued at about $226,000. Finally, AQR Capital Management LLC boosted its position in CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after purchasing an additional 568 shares during the last quarter. 52.35% of the stock is owned by hedge funds and other institutional investors.
CNB Financial Price Performance
Shares of NASDAQ:CCNE opened at $23.81 on Wednesday. The firm has a market cap of $499.87 million, a price-to-earnings ratio of 10.18 and a beta of 0.71. The firm has a fifty day moving average price of $26.60 and a 200 day moving average price of $24.62. CNB Financial Co. has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95.
CNB Financial Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 3.02%. CNB Financial’s dividend payout ratio (DPR) is 30.77%.
Wall Street Analyst Weigh In
CCNE has been the topic of several recent research reports. Keefe, Bruyette & Woods lowered their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday. StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.
Check Out Our Latest Research Report on CCNE
CNB Financial Profile
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.
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