EJF Capital LLC lowered its position in CNB Financial Corp (NASDAQ:CCNE) by 8.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 97,526 shares of the bank’s stock after selling 8,458 shares during the period. EJF Capital LLC owned 0.64% of CNB Financial worth $2,815,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CCNE. Citadel Advisors LLC purchased a new position in shares of CNB Financial during the 3rd quarter worth $230,000. Maltese Capital Management LLC purchased a new position in shares of CNB Financial during the 2nd quarter worth $651,000. First Trust Advisors LP raised its holdings in shares of CNB Financial by 19.7% during the 2nd quarter. First Trust Advisors LP now owns 37,889 shares of the bank’s stock worth $1,139,000 after acquiring an additional 6,233 shares during the period. Wells Fargo & Company MN raised its holdings in shares of CNB Financial by 33.9% during the 3rd quarter. Wells Fargo & Company MN now owns 47,667 shares of the bank’s stock worth $1,376,000 after acquiring an additional 12,057 shares during the period. Finally, LSV Asset Management raised its holdings in shares of CNB Financial by 16.6% during the 2nd quarter. LSV Asset Management now owns 172,649 shares of the bank’s stock worth $5,189,000 after acquiring an additional 24,600 shares during the period. Institutional investors own 43.90% of the company’s stock.

Shares of NASDAQ:CCNE opened at $25.58 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $406.50 million, a P/E ratio of 14.45 and a beta of 0.76. CNB Financial Corp has a 12-month low of $25.25 and a 12-month high of $32.86.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Friday, October 19th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $32.81 million during the quarter, compared to the consensus estimate of $31.80 million. CNB Financial had a return on equity of 12.58% and a net margin of 19.33%. On average, sell-side analysts forecast that CNB Financial Corp will post 2.24 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, November 29th. CNB Financial’s payout ratio is 38.42%.

Several research firms have recently commented on CCNE. Zacks Investment Research upgraded CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a report on Wednesday, October 24th. BidaskClub upgraded CNB Financial from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. ValuEngine lowered CNB Financial from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Boenning Scattergood reiterated a “buy” rating on shares of CNB Financial in a report on Monday, October 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.17.

In other CNB Financial news, Director Francis X. Straub III acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was purchased at an average cost of $26.00 per share, with a total value of $104,000.00. Following the transaction, the director now owns 10,090 shares of the company’s stock, valued at $262,340. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have purchased a total of 4,179 shares of company stock valued at $109,352 over the last three months. Corporate insiders own 4.20% of the company’s stock.

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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. It 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.

Further Reading: Market Capitalization in the Stock Market

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Institutional Ownership by Quarter for CNB Financial (NASDAQ:CCNE)

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