CNB Financial (NASDAQ:CCNE) Sees Strong Trading Volume

CNB Financial Co. (NASDAQ:CCNE) shares saw strong trading volume on Friday . 40,435 shares traded hands during trading, a decline of 11% from the previous session’s volume of 45,246 shares.The stock last traded at $25.13 and had previously closed at $25.30.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st.

CNB Financial Trading Up 0.3 %

The business’s 50 day simple moving average is $23.76 and its two-hundred day simple moving average is $21.06. The stock has a market cap of $532.87 million, a P/E ratio of 10.56 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. The business had revenue of $89.52 million for the quarter, compared to analyst estimates of $55.30 million. As a group, analysts expect that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.18 per share. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, August 30th. CNB Financial’s payout ratio is 30.25%.

Institutional Investors Weigh In On CNB Financial

Several hedge funds have recently added to or reduced their stakes in CCNE. Acadian Asset Management LLC acquired a new position in CNB Financial in the 1st quarter valued at approximately $81,000. PNC Financial Services Group Inc. lifted its holdings in shares of CNB Financial by 41.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after purchasing an additional 2,599 shares during the period. AQR Capital Management LLC grew its stake in shares of CNB Financial by 5.7% in the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after purchasing an additional 568 shares during the last quarter. Staley Capital Advisers Inc. acquired a new stake in CNB Financial in the fourth quarter valued at $258,000. Finally, BNP Paribas Financial Markets raised its position in CNB Financial by 21.0% during the 4th quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock worth $385,000 after purchasing an additional 2,957 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

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.