CNB Financial Co. (NASDAQ:CCNE) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in CNB Financial Co. (NASDAQ:CCNE) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,851 shares of the bank’s stock after acquiring an additional 4,850 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CNB Financial were worth $1,128,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CCNE. Unison Advisors LLC purchased a new stake in shares of CNB Financial in the third quarter valued at about $692,000. Dimensional Fund Advisors LP boosted its holdings in CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after purchasing an additional 24,666 shares during the last quarter. Creative Planning grew its stake in shares of CNB Financial by 82.3% in the 3rd quarter. Creative Planning now owns 18,440 shares of the bank’s stock valued at $444,000 after buying an additional 8,327 shares during the period. American Century Companies Inc. increased its holdings in shares of CNB Financial by 16.7% during the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock worth $7,289,000 after buying an additional 51,080 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of CNB Financial by 5.7% during the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Stock Down 1.1 %

Shares of CCNE opened at $27.91 on Monday. The company’s 50-day moving average price is $25.66 and its 200 day moving average price is $23.20. CNB Financial Co. has a 12-month low of $17.74 and a 12-month high of $29.29. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm has a market cap of $585.83 million, a P/E ratio of 11.93 and a beta of 0.68.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. The business had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $55.40 million. On average, sell-side analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Friday, November 29th. CNB Financial’s dividend payout ratio (DPR) is 30.77%.

Analysts Set New Price Targets

Separately, StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.