Voya Investment Management LLC Has $340,000 Stock Holdings in CNB Financial Corporation $CCNE

Voya Investment Management LLC grew its position in CNB Financial Corporation (NASDAQ:CCNE) by 88.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,296 shares of the bank’s stock after purchasing an additional 7,197 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of CNB Financial worth $340,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of CNB Financial by 0.3% in the first quarter. Vanguard Group Inc. now owns 1,108,371 shares of the bank’s stock valued at $24,661,000 after purchasing an additional 3,472 shares during the period. American Century Companies Inc. raised its position in shares of CNB Financial by 10.5% in the first quarter. American Century Companies Inc. now owns 503,651 shares of the bank’s stock valued at $11,206,000 after purchasing an additional 48,011 shares during the period. Stieven Capital Advisors L.P. raised its position in shares of CNB Financial by 37.4% in the first quarter. Stieven Capital Advisors L.P. now owns 291,390 shares of the bank’s stock valued at $6,483,000 after purchasing an additional 79,312 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of CNB Financial by 78.0% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 256,460 shares of the bank’s stock valued at $5,706,000 after purchasing an additional 112,370 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of CNB Financial by 15.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 145,155 shares of the bank’s stock valued at $3,609,000 after purchasing an additional 19,729 shares during the period. Institutional investors own 52.35% of the company’s stock.

CNB Financial Stock Down 0.7%

CCNE opened at $24.93 on Monday. CNB Financial Corporation has a fifty-two week low of $19.32 and a fifty-two week high of $29.29. 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 firm’s fifty day moving average price is $24.89 and its two-hundred day moving average price is $23.23. The company has a market capitalization of $734.94 million, a P/E ratio of 10.47 and a beta of 0.72.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. The firm had revenue of $61.80 million for the quarter, compared to the consensus estimate of $49.97 million. On average, analysts anticipate that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.9%. CNB Financial’s payout ratio is currently 30.25%.

Analyst Upgrades and Downgrades

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

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.