CNB Financial Co. (NASDAQ:CCNE) Shares Sold by Jane Street Group LLC

Jane Street Group LLC lessened its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 8.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,589 shares of the bank’s stock after selling 2,031 shares during the period. Jane Street Group LLC owned about 0.11% of CNB Financial worth $543,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of CNB Financial in the third quarter valued at $181,000. Acadian Asset Management LLC lifted its holdings in shares of CNB Financial by 131.1% in the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank’s stock valued at $188,000 after purchasing an additional 5,263 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after acquiring an additional 568 shares during the last quarter. PDT Partners LLC acquired a new position in shares of CNB Financial in the third quarter worth $221,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in shares of CNB Financial in the third quarter worth $226,000. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCNE shares. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their target price on shares of CNB Financial from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

CNB Financial Trading Up 0.4 %

CNB Financial stock opened at $24.63 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The company has a market capitalization of $517.08 million, a price-to-earnings ratio of 10.53 and a beta of 0.71. CNB Financial Co. has a one year low of $17.74 and a one year high of $29.29. The company’s fifty day moving average price is $26.80 and its two-hundred day moving average price is $24.42.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. On average, analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, November 29th. CNB Financial’s dividend payout ratio is currently 30.77%.

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.