CNB Financial Corporation (CCNE) Stake Raised by Voya Investment Management LLC
Voya Investment Management LLC increased its position in shares of CNB Financial Corporation (NASDAQ:CCNE) by 8.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,661 shares of the bank’s stock after acquiring an additional 1,001 shares during the quarter. Voya Investment Management LLC owned 0.08% of CNB Financial Corporation worth $303,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in CCNE. American International Group Inc. raised its holdings in shares of CNB Financial Corporation by 7.4% during the first quarter. American International Group Inc. now owns 8,543 shares of the bank’s stock valued at $204,000 after acquiring an additional 585 shares during the period. KCG Holdings Inc. acquired a new stake in shares of CNB Financial Corporation during the first quarter valued at approximately $215,000. Alliancebernstein L.P. raised its holdings in shares of CNB Financial Corporation by 4.8% during the first quarter. Alliancebernstein L.P. now owns 10,940 shares of the bank’s stock valued at $261,000 after acquiring an additional 500 shares during the period. Wells Fargo & Company MN increased its stake in CNB Financial Corporation by 2.0% in the 2nd quarter. Wells Fargo & Company MN now owns 11,175 shares of the bank’s stock valued at $268,000 after buying an additional 217 shares during the period. Finally, Rhumbline Advisers increased its stake in CNB Financial Corporation by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 17,406 shares of the bank’s stock valued at $417,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 42.58% of the company’s stock.
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CNB Financial Corporation (NASDAQ:CCNE) opened at $27.39 on Wednesday. The firm has a market cap of $417.09, a P/E ratio of 16.15 and a beta of 0.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.96 and a quick ratio of 0.96. CNB Financial Corporation has a 12 month low of $20.91 and a 12 month high of $29.76.
CNB Financial Corporation (NASDAQ:CCNE) last released its quarterly earnings data on Thursday, October 19th. The bank reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.08. The firm had revenue of $28.55 million for the quarter, compared to analyst estimates of $28.52 million. CNB Financial Corporation had a net margin of 20.28% and a return on equity of 10.94%. equities research analysts expect that CNB Financial Corporation will post 1.67 earnings per share for the current year.
Several research analysts have weighed in on CCNE shares. ValuEngine lowered shares of CNB Financial Corporation from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research lowered shares of CNB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. BidaskClub lowered shares of CNB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Boenning Scattergood reiterated a “buy” rating on shares of CNB Financial Corporation in a research note on Friday, October 20th.
About CNB Financial Corporation
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
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