Cambridge Investment Research Advisors Inc. Sells 8,860 Shares of CNB Financial Corporation (NASDAQ:CCNE)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of CNB Financial Corporation (NASDAQ:CCNE) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,430 shares of the bank’s stock after selling 8,860 shares during the period. Cambridge Investment Research Advisors Inc. owned approximately 0.06% of CNB Financial worth $299,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in CNB Financial by 13,860.2% during the 1st quarter. GAMMA Investing LLC now owns 15,775 shares of the bank’s stock valued at $351,000 after purchasing an additional 15,662 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of CNB Financial by 15.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 145,155 shares of the bank’s stock worth $3,609,000 after buying an additional 19,729 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of CNB Financial in the 4th quarter worth $84,000. Man Group plc purchased a new position in shares of CNB Financial in the 4th quarter worth $525,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CNB Financial by 3.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,725 shares of the bank’s stock worth $291,000 after buying an additional 437 shares during the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

CNB Financial Stock Down 2.2%

Shares of NASDAQ:CCNE opened at $23.68 on Friday. CNB Financial Corporation has a 1 year low of $19.32 and a 1 year high of $29.29. The business has a 50 day simple moving average of $22.58 and a two-hundred day simple moving average of $23.23. The firm has a market capitalization of $496.81 million, a PE ratio of 10.16 and a beta of 0.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.92 and a quick ratio of 0.92.

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

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors 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 3.04%. CNB Financial’s payout ratio is 30.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stephens assumed coverage on CNB Financial in a research note on Monday, April 14th. They issued an “overweight” rating and a $26.50 price target on the stock. Keefe, Bruyette & Woods raised their price target on CNB Financial from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Friday.

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.