Royce & Associates LP Sells 25,769 Shares of CNB Financial Co. (NASDAQ:CCNE)

Royce & Associates LP cut its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 362,249 shares of the bank’s stock after selling 25,769 shares during the quarter. Royce & Associates LP owned 1.73% of CNB Financial worth $9,006,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in shares of CNB Financial by 17.4% during the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank’s stock worth $219,000 after buying an additional 1,305 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of CNB Financial during the 3rd quarter valued at $221,000. Los Angeles Capital Management LLC bought a new stake in CNB Financial during the 4th quarter worth $285,000. Franklin Resources Inc. increased its holdings in CNB Financial by 95.1% in the 3rd quarter. Franklin Resources Inc. now owns 22,032 shares of the bank’s stock worth $530,000 after purchasing an additional 10,737 shares in the last quarter. Finally, Bailard Inc. raised its position in CNB Financial by 61.8% in the fourth quarter. Bailard Inc. now owns 25,653 shares of the bank’s stock valued at $638,000 after purchasing an additional 9,798 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCNE. StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods decreased their price target on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Monday, January 13th.

CNB Financial Stock Down 0.5 %

Shares of CCNE opened at $22.54 on Wednesday. The stock’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $25.21. CNB Financial Co. has a 12 month low of $17.74 and a 12 month high of $29.29. The company has a market capitalization of $472.89 million, a PE ratio of 9.47 and a beta of 0.65. 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 posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that CNB Financial Co. will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Friday, February 28th. CNB Financial’s dividend payout ratio is currently 30.25%.

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.