Invesco Ltd. Acquires 3,281 Shares of CNB Financial Co. (NASDAQ:CCNE)

Invesco Ltd. lifted its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,672 shares of the bank’s stock after purchasing an additional 3,281 shares during the period. Invesco Ltd. owned 0.19% of CNB Financial worth $1,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American Century Companies Inc. grew its stake in CNB Financial by 13.3% in the 4th quarter. American Century Companies Inc. now owns 455,640 shares of the bank’s stock worth $11,327,000 after buying an additional 53,661 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of CNB Financial by 17.9% during the fourth quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank’s stock valued at $4,566,000 after acquiring an additional 27,874 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of CNB Financial by 19.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank’s stock worth $3,616,000 after purchasing an additional 24,883 shares during the last quarter. Empowered Funds LLC lifted its holdings in CNB Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 72,406 shares of the bank’s stock worth $1,800,000 after buying an additional 3,450 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in CNB Financial by 85.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,349 shares of the bank’s stock worth $1,227,000 after purchasing an additional 22,758 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Stephens began coverage on shares of CNB Financial in a report on Monday, April 14th. They issued an “overweight” rating and a $26.50 target price on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on shares of CNB Financial from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Wednesday, April 16th.

CNB Financial Stock Up 0.2 %

NASDAQ:CCNE opened at $21.99 on Friday. The company has a 50-day moving average of $22.30 and a 200 day moving average of $24.72. CNB Financial Co. has a 1-year low of $18.60 and a 1-year high of $29.29. The firm has a market cap of $461.35 million, a PE ratio of 9.24 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, April 14th. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $54.05 million. As a group, research analysts anticipate that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.27%. CNB Financial’s dividend payout ratio (DPR) is 30.90%.

CNB Financial Company 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.