CNB Financial Corporation $CCNE Stock Position Reduced by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC decreased its stake in CNB Financial Corporation (NASDAQ:CCNE) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,827 shares of the bank’s stock after selling 3,471 shares during the quarter. Campbell & CO Investment Adviser LLC owned approximately 0.09% of CNB Financial worth $430,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CCNE. Hotchkis & Wiley Capital Management LLC increased its stake 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 worth $5,706,000 after acquiring an additional 112,370 shares during the last quarter. Cresset Asset Management LLC bought a new position in CNB Financial during the first quarter valued at approximately $1,089,000. American Century Companies Inc. lifted its stake in 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 acquiring an additional 48,011 shares during the last quarter. Nuveen LLC acquired a new stake in CNB Financial in the first quarter valued at approximately $1,024,000. Finally, Jane Street Group LLC bought a new stake in CNB Financial in the first quarter worth approximately $714,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Performance

CCNE opened at $24.98 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average price is $24.77 and its two-hundred day moving average price is $23.87. The firm has a market capitalization of $736.31 million, a P/E ratio of 10.50 and a beta of 0.76. CNB Financial Corporation has a 12-month low of $19.32 and a 12-month high of $29.00.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. The business had revenue of $77.70 million for the quarter, compared to the consensus estimate of $68.50 million. On average, equities analysts forecast that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, November 28th. CNB Financial’s dividend payout ratio (DPR) is currently 36.18%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CCNE shares. Wall Street Zen downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Sunday. Janney Montgomery Scott upgraded CNB Financial to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of CNB Financial in a research note on Thursday. Finally, Keefe, Bruyette & Woods raised their price objective on CNB Financial from $26.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $27.75.

About CNB Financial

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.