Royce & Associates LP Has $6.86 Million Position in CNB Financial Corporation $CCNE

Royce & Associates LP reduced its holdings in CNB Financial Corporation (NASDAQ:CCNE) by 22.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 262,180 shares of the bank’s stock after selling 75,423 shares during the period. Royce & Associates LP owned approximately 0.89% of CNB Financial worth $6,861,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Flagship Harbor Advisors LLC bought a new stake in CNB Financial in the fourth quarter valued at about $27,000. Founders Capital Management bought a new stake in CNB Financial in the third quarter valued at about $31,000. Tower Research Capital LLC TRC increased its holdings in CNB Financial by 46.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in CNB Financial by 16,173.3% in the third quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in CNB Financial by 35.5% in the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock valued at $63,000 after purchasing an additional 679 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Stock Performance

CCNE opened at $30.80 on Friday. The firm’s fifty day moving average is $30.05 and its two-hundred day moving average is $28.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $912.60 million, a PE ratio of 10.96 and a beta of 0.65. CNB Financial Corporation has a twelve month low of $21.19 and a twelve month high of $31.80.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Monday, April 20th. The bank reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.06. CNB Financial had a net margin of 17.62% and a return on equity of 12.14%. The company had revenue of $83.32 million for the quarter, compared to analyst estimates of $79.35 million. Equities research analysts anticipate that CNB Financial Corporation will post 3.53 EPS for the current year.

CNB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 1st. CNB Financial’s dividend payout ratio (DPR) is presently 27.05%.

Wall Street Analysts Forecast Growth

CCNE has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective on CNB Financial from $30.00 to $34.00 and gave the company a “market perform” rating in a report on Tuesday, April 21st. Weiss Ratings upgraded CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a report on Thursday, March 12th. Wall Street Zen lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Stephens increased their target price on shares of CNB Financial from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, DA Davidson assumed coverage on shares of CNB Financial in a report on Friday, May 15th. They issued a “neutral” rating and a $34.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

CNB Financial Company Profile

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.