SG Americas Securities LLC Increases Stake in CNB Financial Co. (NASDAQ:CCNE)

SG Americas Securities LLC increased its holdings in CNB Financial Co. (NASDAQ:CCNE) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,808 shares of the bank’s stock after purchasing an additional 1,305 shares during the quarter. SG Americas Securities LLC’s holdings in CNB Financial were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC boosted its holdings in CNB Financial by 0.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock valued at $3,460,000 after acquiring an additional 390 shares during the period. AQR Capital Management LLC grew its position in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after buying an additional 568 shares during the last quarter. Martingale Asset Management L P lifted its position in shares of CNB Financial by 1.6% in the 3rd quarter. Martingale Asset Management L P now owns 62,534 shares of the bank’s stock worth $1,505,000 after purchasing an additional 1,013 shares during the period. Empowered Funds LLC raised its position in shares of CNB Financial by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 68,956 shares of the bank’s stock worth $1,659,000 after acquiring an additional 3,484 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of CNB Financial by 11.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock worth $1,128,000 after acquiring an additional 4,850 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

CNB Financial Stock Up 0.2 %

CCNE opened at $26.21 on Friday. The company has a market capitalization of $550.15 million, a PE ratio of 11.01 and a beta of 0.71. The firm has a 50-day simple moving average of $25.52 and a two-hundred day simple moving average of $25.06. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. CNB Financial Co. has a 52 week low of $17.74 and a 52 week high of $29.29.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. Analysts forecast that CNB Financial Co. will post 1.72 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.75%. CNB Financial’s dividend payout ratio is presently 30.25%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCNE. Keefe, Bruyette & Woods cut their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. StockNews.com raised shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Thursday.

CNB Financial 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.