CNB Financial Co. (NASDAQ:CCNE) Shares Purchased by Barclays PLC

Barclays PLC increased its position in shares of CNB Financial Co. (NASDAQ:CCNE) by 274.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,528 shares of the bank’s stock after acquiring an additional 20,182 shares during the quarter. Barclays PLC owned approximately 0.13% of CNB Financial worth $663,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of CNB Financial in the 3rd quarter worth $181,000. Acadian Asset Management LLC lifted its stake in shares of CNB Financial by 131.1% in the second quarter. Acadian Asset Management LLC now owns 9,276 shares of the bank’s stock worth $188,000 after acquiring an additional 5,263 shares in the last quarter. AQR Capital Management LLC boosted its stake in CNB Financial by 5.7% during the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after acquiring an additional 568 shares during the last quarter. PDT Partners LLC acquired a new position in shares of CNB Financial in the 3rd quarter worth approximately $221,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in shares of CNB Financial in the 3rd quarter worth about $226,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Trading Down 0.2 %

NASDAQ CCNE opened at $24.86 on Thursday. The firm’s fifty day simple moving average is $26.83 and its 200-day simple moving average is $24.31. 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 Co. has a 1-year low of $17.74 and a 1-year high of $29.29. The company has a market capitalization of $521.91 million, a PE ratio of 10.62 and a beta of 0.70.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The company had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $55.40 million. As a group, sell-side analysts anticipate that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Friday, November 29th. CNB Financial’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CCNE shares. Keefe, Bruyette & Woods upped their price target 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. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.