CNB Financial Corporation (NASDAQ:CCNE) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its position in shares of CNB Financial Corporation (NASDAQ:CCNE) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,539 shares of the bank’s stock after selling 24,616 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.57% of CNB Financial worth $2,682,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CCNE. Ameriprise Financial Inc. boosted its position in CNB Financial by 35.8% during the fourth quarter. Ameriprise Financial Inc. now owns 298,954 shares of the bank’s stock worth $7,432,000 after acquiring an additional 78,874 shares during the last quarter. American Century Companies Inc. boosted its position in CNB Financial by 13.3% during the fourth quarter. American Century Companies Inc. now owns 455,640 shares of the bank’s stock worth $11,327,000 after acquiring an additional 53,661 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in CNB Financial by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank’s stock worth $25,139,000 after acquiring an additional 33,424 shares during the last quarter. JPMorgan Chase & Co. boosted its position in CNB Financial by 17.9% during the fourth quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank’s stock worth $4,566,000 after acquiring an additional 27,874 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in CNB Financial by 85.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,349 shares of the bank’s stock worth $1,227,000 after acquiring an additional 22,758 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Up 0.0%

Shares of CCNE opened at $22.89 on Friday. The firm has a market cap of $480.23 million, a PE ratio of 9.82 and a beta of 0.63. The company’s fifty day moving average is $22.17 and its two-hundred day moving average is $23.41. CNB Financial Corporation has a fifty-two week low of $18.90 and a fifty-two week high of $29.29. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, April 14th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $57.55 million for the quarter, compared to analyst estimates of $54.05 million. CNB Financial had a net margin of 14.50% and a return on equity of 9.80%. Analysts forecast that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.18 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.15%. CNB Financial’s dividend payout ratio (DPR) is presently 30.90%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CCNE shares. Stephens started coverage on shares of CNB Financial in a research report on Monday, April 14th. They set an “overweight” rating and a $26.50 target price on the stock. Keefe, Bruyette & Woods decreased their price target on shares of CNB Financial from $27.00 to $25.00 and set a “market perform” rating on the stock in a report on Wednesday, April 16th.

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.