CNB Financial (NASDAQ:CCNE) Sees Unusually-High Trading Volume

Shares of CNB Financial Co. (NASDAQ:CCNE) saw an uptick in trading volume on Friday . 40,435 shares were traded during mid-day trading, a decline of 11% from the previous session’s volume of 45,246 shares.The stock last traded at $25.13 and had previously closed at $25.30.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

CNB Financial Stock Up 0.3 %

The stock’s fifty day simple moving average is $23.76 and its 200-day simple moving average is $21.06. The stock has a market cap of $532.87 million, a P/E ratio of 10.56 and a beta of 0.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. The business had revenue of $89.52 million during the quarter, compared to analysts’ expectations of $55.30 million. As a group, research analysts forecast that CNB Financial Co. will post 2.25 earnings per share for the current fiscal year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.18 per share. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio is 30.25%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new position in CNB Financial in the 1st quarter valued at about $81,000. PNC Financial Services Group Inc. raised its position in CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after purchasing an additional 2,599 shares in the last quarter. AQR Capital Management LLC lifted its stake in CNB Financial by 5.7% during the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after purchasing an additional 568 shares during the last quarter. Staley Capital Advisers Inc. acquired a new stake in shares of CNB Financial in the 4th quarter valued at $258,000. Finally, BNP Paribas Financial Markets increased its stake in shares of CNB Financial by 21.0% in the 4th quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock valued at $385,000 after purchasing an additional 2,957 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

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.