Pekin Hardy Strauss Inc. Lowers Stock Position in CNB Financial Co. (NASDAQ:CCNE)

Pekin Hardy Strauss Inc. decreased its holdings in CNB Financial Co. (NASDAQ:CCNE) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,458 shares of the bank’s stock after selling 34,270 shares during the quarter. Pekin Hardy Strauss Inc. owned about 1.25% of CNB Financial worth $5,884,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CCNE. New York State Common Retirement Fund raised its holdings in CNB Financial by 14.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock worth $178,000 after purchasing an additional 1,006 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of CNB Financial by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock worth $252,000 after acquiring an additional 2,343 shares during the last quarter. Beese Fulmer Investment Management Inc. acquired a new stake in shares of CNB Financial during the fourth quarter valued at $212,000. Vanguard Group Inc. boosted its stake in shares of CNB Financial by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,000,658 shares of the bank’s stock worth $18,122,000 after purchasing an additional 5,800 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of CNB Financial by 1.0% during the third quarter. Wellington Management Group LLP now owns 1,205,918 shares of the bank’s stock worth $21,839,000 after buying an additional 12,300 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Trading Up 0.3 %

NASDAQ CCNE traded up $0.06 during trading hours on Tuesday, hitting $19.00. 43,972 shares of the company’s stock were exchanged, compared to its average volume of 49,231. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $399.38 million, a P/E ratio of 7.90 and a beta of 0.78. The business’s 50 day moving average is $19.72 and its 200-day moving average is $20.40. CNB Financial Co. has a 12-month low of $16.43 and a 12-month high of $23.40.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.175 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.70 dividend on an annualized basis and a yield of 3.68%. CNB Financial’s payout ratio is 29.41%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods decreased their target price on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 17th.

About CNB Financial

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. The company 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.