Strs Ohio Buys Shares of 11,800 CNB Financial Corporation $CCNE

Strs Ohio acquired a new stake in shares of CNB Financial Corporation (NASDAQ:CCNE) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,800 shares of the bank’s stock, valued at approximately $263,000. Strs Ohio owned approximately 0.06% of CNB Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jane Street Group LLC bought a new stake in CNB Financial in the first quarter worth about $714,000. Empowered Funds LLC grew its stake in CNB Financial by 7.4% during the 1st quarter. Empowered Funds LLC now owns 77,776 shares of the bank’s stock valued at $1,731,000 after acquiring an additional 5,370 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of CNB Financial by 53.7% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 13,040 shares of the bank’s stock valued at $290,000 after buying an additional 4,557 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CNB Financial by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock valued at $273,000 after buying an additional 546 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in CNB Financial by 3.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 142,076 shares of the bank’s stock worth $3,161,000 after purchasing an additional 5,370 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on CNB Financial from $26.00 to $29.00 and gave the stock a “market perform” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $27.75.

CNB Financial Stock Performance

Shares of NASDAQ:CCNE opened at $25.23 on Thursday. The business’s fifty day moving average price is $24.85 and its two-hundred day moving average price is $23.19. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $743.78 million, a price-to-earnings ratio of 10.60 and a beta of 0.72. CNB Financial Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $29.29.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $61.80 million for the quarter, compared to analysts’ expectations of $49.97 million. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. As a group, analysts predict that CNB Financial Corporation will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a $0.18 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.9%. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

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.