Creative Planning Buys 8,327 Shares of CNB Financial Co. (NASDAQ:CCNE)

Creative Planning lifted its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 82.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,440 shares of the bank’s stock after purchasing an additional 8,327 shares during the period. Creative Planning owned 0.09% of CNB Financial worth $444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Unison Advisors LLC bought a new stake in CNB Financial in the 3rd quarter valued at $692,000. SG Americas Securities LLC bought a new stake in CNB Financial in the 3rd quarter valued at $181,000. AQR Capital Management LLC raised its stake in CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after acquiring an additional 568 shares during the period. Dimensional Fund Advisors LP raised its stake in CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after acquiring an additional 24,666 shares during the period. Finally, American Century Companies Inc. raised its stake in CNB Financial by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after acquiring an additional 51,080 shares during the period. Institutional investors own 52.35% of the company’s stock.

CNB Financial Stock Up 13.2 %

CCNE stock opened at $29.25 on Thursday. The stock has a market capitalization of $614.25 million, a price-to-earnings ratio of 12.50 and a beta of 0.68. CNB Financial Co. has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $24.21 and its two-hundred day moving average price is $22.15.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.27% and a net margin of 14.90%. On average, equities analysts anticipate that CNB Financial Co. will post 2.3 earnings per share for the current year.

CNB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 2.46%. CNB Financial’s dividend payout ratio (DPR) is 30.77%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.