CNB Financial Co. (NASDAQ:CCNE) Shares Bought by Empowered Funds LLC

Empowered Funds LLC raised its stake in CNB Financial Co. (NASDAQ:CCNE) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,406 shares of the bank’s stock after purchasing an additional 3,450 shares during the period. Empowered Funds LLC owned about 0.34% of CNB Financial worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in CNB Financial in the 3rd quarter valued at about $181,000. PDT Partners LLC acquired a new stake in shares of CNB Financial during the 3rd quarter worth about $221,000. Beese Fulmer Investment Management Inc. acquired a new stake in shares of CNB Financial during the 3rd quarter worth about $226,000. Creative Planning raised its position in shares of CNB Financial by 82.3% during the 3rd quarter. Creative Planning now owns 18,440 shares of the bank’s stock worth $444,000 after acquiring an additional 8,327 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of CNB Financial by 95.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,032 shares of the bank’s stock worth $530,000 after acquiring an additional 10,737 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Ratings Changes

CCNE has been the topic of several research analyst reports. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research report on Friday. 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 report on Monday, January 13th.

CNB Financial Trading Down 0.6 %

CCNE opened at $26.13 on Friday. The firm has a market cap of $548.47 million, a price-to-earnings ratio of 10.98 and a beta of 0.71. CNB Financial Co. has a 52 week low of $17.74 and a 52 week high of $29.29. The business’s 50 day moving average is $25.36 and its two-hundred day moving average is $25.08. 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 (NASDAQ:CCNE) last announced 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%. On average, research analysts predict that CNB Financial Co. will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.76%. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

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.