CNB Financial Corp (CCNE) Position Trimmed by First Trust Advisors LP
First Trust Advisors LP trimmed its position in shares of CNB Financial Corp (NASDAQ:CCNE) by 12.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,835 shares of the bank’s stock after selling 4,478 shares during the period. First Trust Advisors LP owned 0.20% of CNB Financial worth $842,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Royce & Associates LP increased its holdings in CNB Financial by 5.8% during the second quarter. Royce & Associates LP now owns 725,163 shares of the bank’s stock worth $17,382,000 after buying an additional 39,995 shares during the last quarter. Vanguard Group Inc. increased its holdings in CNB Financial by 8.6% during the second quarter. Vanguard Group Inc. now owns 532,453 shares of the bank’s stock worth $12,763,000 after buying an additional 42,057 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in CNB Financial by 11.3% during the second quarter. Dimensional Fund Advisors LP now owns 380,396 shares of the bank’s stock worth $9,118,000 after buying an additional 38,699 shares during the last quarter. State Street Corp increased its holdings in CNB Financial by 3.4% during the second quarter. State Street Corp now owns 253,997 shares of the bank’s stock worth $6,089,000 after buying an additional 8,363 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in CNB Financial by 7.4% during the second quarter. Stifel Financial Corp now owns 198,113 shares of the bank’s stock worth $4,752,000 after buying an additional 13,566 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.
CNB Financial Corp (NASDAQ CCNE) opened at $28.00 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.11. CNB Financial Corp has a 52-week low of $20.91 and a 52-week high of $29.76. The company has a market cap of $439.25, a price-to-earnings ratio of 17.01 and a beta of 0.84.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.66 dividend on an annualized basis and a yield of 2.36%. CNB Financial’s dividend payout ratio (DPR) is 39.05%.
A number of equities analysts recently weighed in on CCNE shares. Zacks Investment Research downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial in a research report on Friday, October 20th. Finally, ValuEngine cut shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th.
CNB Financial 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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