160,083 Shares in CNB Financial Corporation $CCNE Bought by Globeflex Capital L P

Globeflex Capital L P bought a new stake in shares of CNB Financial Corporation (NASDAQ:CCNE) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 160,083 shares of the bank’s stock, valued at approximately $5,396,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in CNB Financial by 38.2% in the 4th quarter. Wellington Management Group LLP now owns 2,592,950 shares of the bank’s stock worth $67,858,000 after purchasing an additional 716,917 shares in the last quarter. BlackRock Inc. purchased a new position in shares of CNB Financial during the second quarter valued at about $78,011,000. Vanguard Group Inc. increased its holdings in shares of CNB Financial by 38.3% in the third quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after purchasing an additional 435,300 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of CNB Financial by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank’s stock worth $43,613,000 after purchasing an additional 27,236 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of CNB Financial by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 792,749 shares of the bank’s stock worth $20,750,000 after buying an additional 34,520 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CCNE. DA Davidson increased their price target on CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $37.00 price objective (up from $35.00) on shares of CNB Financial in a research note on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CNB Financial in a report on Tuesday, June 9th. Finally, Wall Street Zen downgraded CNB Financial from a “buy” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $36.00.

CNB Financial Price Performance

Shares of NASDAQ CCNE opened at $33.84 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. CNB Financial Corporation has a 12-month low of $22.80 and a 12-month high of $36.17. The firm’s 50-day moving average price is $34.04 and its 200-day moving average price is $31.25. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.88 and a beta of 0.63.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. CNB Financial had a return on equity of 12.85% and a net margin of 19.37%.The company had revenue of $87.65 million during the quarter, compared to analyst estimates of $85.87 million. On average, equities research analysts anticipate that CNB Financial Corporation will post 3.58 EPS for the current fiscal year.

CNB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 1st. CNB Financial’s dividend payout ratio (DPR) is presently 24.44%.

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.