CNB Financial (NASDAQ:CCNE) Sees Strong Trading Volume – What’s Next?

CNB Financial Co. (NASDAQ:CCNE) saw unusually-high trading volume on Friday . Approximately 26,774 shares changed hands during trading, a decline of 43% from the previous session’s volume of 46,696 shares.The stock last traded at $25.21 and had previously closed at $25.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CCNE shares. Keefe, Bruyette & Woods upped their price objective on shares of CNB Financial from $27.00 to $30.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

CNB Financial Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $531.99 million, a PE ratio of 10.83 and a beta of 0.70. The company has a 50 day moving average price of $26.77 and a 200 day moving average price of $23.94.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. Equities analysts forecast that CNB Financial Co. will post 2.3 EPS for the current year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.84%. CNB Financial’s dividend payout ratio (DPR) is 30.77%.

Institutional Trading of CNB Financial

Several institutional investors and hedge funds have recently bought and sold shares of CCNE. Hotchkis & Wiley Capital Management LLC grew its position in shares of CNB Financial by 0.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock worth $3,460,000 after acquiring an additional 390 shares in the last quarter. AQR Capital Management LLC boosted its holdings in 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 period. Martingale Asset Management L P boosted its holdings in CNB Financial by 1.6% in the third quarter. Martingale Asset Management L P now owns 62,534 shares of the bank’s stock worth $1,505,000 after purchasing an additional 1,013 shares during the period. Empowered Funds LLC increased its stake in CNB Financial by 5.3% during the third quarter. Empowered Funds LLC now owns 68,956 shares of the bank’s stock valued at $1,659,000 after purchasing an additional 3,484 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of CNB Financial by 11.5% during the third quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock worth $1,128,000 after purchasing an additional 4,850 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

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.