BNP Paribas Financial Markets Decreases Position in CNB Financial Co. (NASDAQ:CCNE)

BNP Paribas Financial Markets lessened its holdings in CNB Financial Co. (NASDAQ:CCNE) by 37.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,322 shares of the bank’s stock after selling 9,364 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of CNB Financial worth $369,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in CNB Financial in the 3rd quarter valued at approximately $181,000. Acadian Asset Management LLC boosted its position in CNB Financial by 131.1% in the 2nd 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 during the period. AQR Capital Management LLC boosted its position in CNB Financial by 5.7% in the 2nd 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 during the period. Beese Fulmer Investment Management Inc. purchased a new position in CNB Financial in the 3rd quarter valued at approximately $226,000. Finally, Creative Planning boosted its position in CNB Financial by 82.3% in the 3rd quarter. Creative Planning now owns 18,440 shares of the bank’s stock valued at $444,000 after buying an additional 8,327 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Price Performance

CNB Financial stock opened at $27.25 on Friday. The stock has a market cap of $572.09 million, a P/E ratio of 11.65 and a beta of 0.70. The company has a fifty day simple moving average of $26.50 and a 200-day simple moving average of $23.73. 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 released its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. The business had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $55.40 million. Equities analysts expect that CNB Financial Co. will post 2.3 EPS for the current fiscal year.

CNB Financial Announces Dividend

The business 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 of this dividend was Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 2.64%. CNB Financial’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price objective on shares of CNB Financial from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.