AQR Capital Management LLC Increases Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

AQR Capital Management LLC raised its holdings in CNB Financial Co. (NASDAQ:CCNE) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,543 shares of the bank’s stock after buying an additional 568 shares during the quarter. AQR Capital Management LLC owned about 0.05% of CNB Financial worth $215,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of CNB Financial in the 1st quarter valued at approximately $81,000. PNC Financial Services Group Inc. raised its holdings in shares of CNB Financial by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after buying an additional 2,599 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of CNB Financial by 73.9% during the first quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock worth $604,000 after buying an additional 12,589 shares during the period. Empowered Funds LLC grew its holdings in shares of CNB Financial by 8.1% during the first quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock valued at $1,240,000 after buying an additional 4,550 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of CNB Financial by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 4,973 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Price Performance

Shares of NASDAQ:CCNE opened at $25.03 on Friday. CNB Financial Co. has a twelve month low of $17.45 and a twelve month high of $26.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The company has a market cap of $525.73 million, a PE ratio of 10.52 and a beta of 0.69. The company’s 50 day moving average is $23.65 and its 200 day moving average is $21.56.

CNB Financial (NASDAQ:CCNE) last released 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. The firm had revenue of $89.52 million for the quarter, compared to analyst estimates of $55.30 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. On average, sell-side analysts forecast that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.18 per share. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

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

CNB Financial Company Profile

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.