CNB Financial Corporation $CCNE Shares Purchased by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in CNB Financial Corporation (NASDAQ:CCNE) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 605,374 shares of the bank’s stock after acquiring an additional 61,898 shares during the quarter. American Century Companies Inc. owned about 2.05% of CNB Financial worth $14,650,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of CNB Financial by 38.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after purchasing an additional 435,300 shares in the last quarter. Davis Asset Management L.P. boosted its holdings in CNB Financial by 27.7% during the second quarter. Davis Asset Management L.P. now owns 894,033 shares of the bank’s stock worth $20,438,000 after buying an additional 194,033 shares in the last quarter. JPMorgan Chase & Co. grew its position in CNB Financial by 67.6% in the third quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock worth $6,272,000 after buying an additional 104,516 shares during the last quarter. Oppenheimer & Close LLC acquired a new position in CNB Financial in the third quarter worth approximately $1,782,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of CNB Financial by 16.1% in the second quarter. Ameriprise Financial Inc. now owns 347,883 shares of the bank’s stock valued at $7,953,000 after buying an additional 48,326 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCNE has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of CNB Financial in a research note on Monday, December 29th. Wall Street Zen raised CNB Financial from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Stephens upped their target price on CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

CNB Financial Stock Down 1.6%

Shares of NASDAQ:CCNE opened at $26.97 on Thursday. The firm has a 50 day simple moving average of $27.92 and a 200 day simple moving average of $26.36. CNB Financial Corporation has a 52 week low of $19.32 and a 52 week high of $30.84. 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 market cap of $795.08 million, a PE ratio of 11.10 and a beta of 0.71.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.10. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. The firm had revenue of $87.16 million for the quarter, compared to analysts’ expectations of $73.10 million. As a group, research analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.19 per share. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 27th. CNB Financial’s dividend payout ratio is presently 31.28%.

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.