TIAA CREF Investment Management LLC Sells 1,910 Shares of CNB Financial Corporation (CCNE)
TIAA CREF Investment Management LLC cut its holdings in shares of CNB Financial Corporation (NASDAQ:CCNE) by 4.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 39,114 shares of the bank’s stock after selling 1,910 shares during the quarter. TIAA CREF Investment Management LLC owned 0.26% of CNB Financial Corporation worth $938,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CCNE. Bank of New York Mellon Corp raised its position in CNB Financial Corporation by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 96,284 shares of the bank’s stock worth $2,300,000 after buying an additional 5,107 shares during the last quarter. Prudential Financial Inc. raised its position in CNB Financial Corporation by 1.3% during the 1st quarter. Prudential Financial Inc. now owns 35,500 shares of the bank’s stock worth $848,000 after buying an additional 440 shares during the last quarter. American International Group Inc. raised its position in CNB Financial Corporation by 7.4% during the 1st quarter. American International Group Inc. now owns 8,543 shares of the bank’s stock worth $204,000 after buying an additional 585 shares during the last quarter. Alliancebernstein L.P. raised its position in CNB Financial Corporation by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 10,940 shares of the bank’s stock worth $261,000 after buying an additional 500 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of CNB Financial Corporation by 13.6% during the 1st quarter. California Public Employees Retirement System now owns 37,600 shares of the bank’s stock worth $898,000 after purchasing an additional 4,500 shares during the period. 42.51% of the stock is owned by institutional investors.
Shares of CNB Financial Corporation (NASDAQ CCNE) opened at $26.89 on Friday. CNB Financial Corporation has a one year low of $20.27 and a one year high of $29.76. The stock has a market cap of $410.99, a price-to-earnings ratio of 15.91 and a beta of 0.87. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.20.
CNB Financial Corporation (NASDAQ:CCNE) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.08. CNB Financial Corporation had a net margin of 20.28% and a return on equity of 11.13%. The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $28.52 million. equities analysts expect that CNB Financial Corporation will post 1.67 earnings per share for the current fiscal year.
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A number of equities research analysts have recently commented on CCNE shares. Zacks Investment Research cut shares of CNB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 19th. Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial Corporation in a research note on Friday, October 20th. Finally, BidaskClub cut shares of CNB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st.
CNB Financial Corporation Company Profile
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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