CNB Financial Co. (NASDAQ:CCNE) Position Boosted by American Century Companies Inc.

American Century Companies Inc. raised its holdings in shares of CNB Financial Co. (NASDAQ:CCNE) by 16.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,127 shares of the bank’s stock after acquiring an additional 51,080 shares during the period. American Century Companies Inc. owned approximately 1.70% of CNB Financial worth $7,289,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CCNE. BHZ Capital Management LP raised its stake in shares of CNB Financial by 1.4% during the fourth quarter. BHZ Capital Management LP now owns 57,904 shares of the bank’s stock valued at $1,308,000 after purchasing an additional 791 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of CNB Financial by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after acquiring an additional 2,599 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of CNB Financial by 21.0% in the fourth quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock valued at $385,000 after acquiring an additional 2,957 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of CNB Financial during the first quarter valued at approximately $81,000. Finally, Empowered Funds LLC raised its holdings in CNB Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock worth $1,240,000 after purchasing an additional 4,550 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

CNB Financial Stock Performance

NASDAQ:CCNE opened at $24.55 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $23.87 and a 200-day moving average of $21.13. CNB Financial Co. has a twelve month low of $17.45 and a twelve month high of $26.87. The firm has a market cap of $515.65 million, a price-to-earnings ratio of 10.32 and a beta of 0.69.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. The firm had revenue of $89.52 million for the quarter, compared to analyst estimates of $55.30 million. Analysts forecast that CNB Financial Co. will post 2.25 earnings per share for the current fiscal year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.18 per share. The ex-dividend date was Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.93%. CNB Financial’s payout ratio is 30.25%.

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.