CNB Financial Co. (NASDAQ:CCNE) Shares Acquired by Barclays PLC

Barclays PLC grew its stake in CNB Financial Co. (NASDAQ:CCNE) by 274.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 27,528 shares of the bank’s stock after acquiring an additional 20,182 shares during the period. Barclays PLC owned about 0.13% of CNB Financial worth $663,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in CNB Financial in the third quarter valued at approximately $181,000. Acadian Asset Management LLC grew its stake 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 buying an additional 5,263 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $215,000 after buying an additional 568 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of CNB Financial in the 3rd quarter valued at $221,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in CNB Financial during the 3rd quarter worth about $226,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on CCNE. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Monday.

CNB Financial Stock Up 0.4 %

Shares of NASDAQ CCNE opened at $23.99 on Friday. The stock has a market cap of $503.55 million, a P/E ratio of 10.25 and a beta of 0.71. The business’s fifty day simple moving average is $26.45 and its 200-day simple moving average is $24.63. CNB Financial Co. has a 12-month low of $17.74 and a 12-month high of $29.29. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19.

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

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Friday, November 29th. CNB Financial’s dividend payout ratio (DPR) is presently 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.