CNB Financial Corporation $CCNE Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in CNB Financial Corporation (NASDAQ:CCNE) by 78.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 41,220 shares of the bank’s stock after acquiring an additional 18,131 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CNB Financial were worth $998,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in CNB Financial by 201.7% during the 1st quarter. AQR Capital Management LLC now owns 43,890 shares of the bank’s stock valued at $977,000 after purchasing an additional 29,343 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CNB Financial by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,271 shares of the bank’s stock valued at $273,000 after buying an additional 546 shares during the last quarter. Empowered Funds LLC grew its position in shares of CNB Financial by 7.4% during the first quarter. Empowered Funds LLC now owns 77,776 shares of the bank’s stock worth $1,731,000 after buying an additional 5,370 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of CNB Financial in the first quarter worth $714,000. Finally, Los Angeles Capital Management LLC raised its holdings in CNB Financial by 104.6% in the second quarter. Los Angeles Capital Management LLC now owns 20,520 shares of the bank’s stock valued at $469,000 after acquiring an additional 10,490 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CNB Financial in a research report on Monday, December 29th. Finally, Stephens lifted their price target on CNB Financial from $28.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

CNB Financial Trading Up 0.2%

CNB Financial stock opened at $29.17 on Wednesday. CNB Financial Corporation has a 1 year low of $19.32 and a 1 year high of $30.84. The firm’s 50-day moving average is $27.65 and its 200-day moving average is $26.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $859.93 million, a P/E ratio of 12.00 and a beta of 0.73.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. CNB Financial had a net margin of 15.29% and a return on equity of 11.83%. The business had revenue of $87.16 million during the quarter, compared to the consensus estimate of $73.10 million. On average, equities analysts expect that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s payout ratio is currently 29.63%.

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.