Thrivent Financial for Lutherans Lowers Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

Thrivent Financial for Lutherans cut its position in CNB Financial Co. (NASDAQ:CCNE) by 32.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,460 shares of the bank’s stock after selling 15,391 shares during the quarter. Thrivent Financial for Lutherans owned 0.15% of CNB Financial worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PDT Partners LLC acquired a new position in CNB Financial during the 3rd quarter worth $221,000. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of CNB Financial by 0.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock valued at $3,460,000 after buying an additional 390 shares during the period. State Street Corp grew its position in shares of CNB Financial by 2.2% during the third quarter. State Street Corp now owns 424,579 shares of the bank’s stock worth $10,215,000 after buying an additional 8,942 shares in the last quarter. Barclays PLC increased its stake in shares of CNB Financial by 274.7% during the third quarter. Barclays PLC now owns 27,528 shares of the bank’s stock worth $663,000 after buying an additional 20,182 shares during the period. Finally, Geode Capital Management LLC raised its holdings in CNB Financial by 2.0% in the third quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock valued at $11,408,000 after acquiring an additional 9,359 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Stock Performance

Shares of CCNE stock opened at $22.51 on Thursday. The firm has a market cap of $472.26 million, a price-to-earnings ratio of 9.46 and a beta of 0.65. CNB Financial Co. has a 1 year low of $17.74 and a 1 year high of $29.29. The stock’s 50-day moving average is $24.33 and its two-hundred day moving average is $25.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Analysts predict that CNB Financial Co. will post 2.04 earnings per share for the current year.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 3.20%. CNB Financial’s dividend payout ratio (DPR) is 30.25%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods lowered their target price 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, January 13th.

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.