Bailard Inc. Invests $748,000 in CNB Financial Corporation $CCNE

Bailard Inc. purchased a new position in CNB Financial Corporation (NASDAQ:CCNE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 30,900 shares of the bank’s stock, valued at approximately $748,000. Bailard Inc. owned approximately 0.10% of CNB Financial as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CCNE. Peoples Financial Services CORP. acquired a new position in shares of CNB Financial during the 3rd quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position in CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after acquiring an additional 636 shares during the period. CWM LLC grew its position in CNB Financial by 230.2% in the 3rd quarter. CWM LLC now owns 4,458 shares of the bank’s stock valued at $108,000 after buying an additional 3,108 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in CNB Financial in the second quarter valued at about $215,000. Finally, Quantinno Capital Management LP purchased a new position in CNB Financial in the second quarter worth $260,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Trading Down 3.8%

CNB Financial stock opened at $27.09 on Friday. The firm has a market capitalization of $798.61 million, a price-to-earnings ratio of 13.61 and a beta of 0.73. CNB Financial Corporation has a 52 week low of $19.32 and a 52 week high of $28.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day moving average price of $26.50 and a 200 day moving average price of $25.26.

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 return on equity of 10.38% and a net margin of 11.92%.The business had revenue of $77.70 million during the quarter, compared to analyst estimates of $68.50 million. Research analysts forecast that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, November 28th. CNB Financial’s dividend payout ratio is presently 36.18%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CCNE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 29th. Janney Montgomery Scott raised shares of CNB Financial to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, CNB Financial has a consensus rating of “Moderate Buy” and a consensus target price of $27.75.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.