Intech Investment Management LLC Invests $203,000 in CNB Financial Co. (NASDAQ:CCNE)

Intech Investment Management LLC bought a new stake in CNB Financial Co. (NASDAQ:CCNE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,153 shares of the bank’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCNE. Geode Capital Management LLC grew its holdings in shares of CNB Financial by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 474,032 shares of the bank’s stock valued at $11,408,000 after acquiring an additional 9,359 shares in the last quarter. State Street Corp raised its stake in shares of CNB Financial by 2.2% during the 3rd quarter. State Street Corp now owns 424,579 shares of the bank’s stock worth $10,215,000 after purchasing an additional 8,942 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of CNB Financial by 11.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank’s stock valued at $3,749,000 after buying an additional 15,714 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of CNB Financial by 19.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank’s stock valued at $3,616,000 after buying an additional 24,883 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in CNB Financial by 0.3% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock worth $3,460,000 after buying an additional 390 shares during the last quarter. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Trading Down 0.1 %

CCNE stock opened at $22.57 on Thursday. CNB Financial Co. has a one year low of $17.74 and a one year high of $29.29. The stock has a market cap of $473.52 million, a price-to-earnings ratio of 9.48 and a beta of 0.65. The company has a fifty day moving average price of $24.53 and a two-hundred day moving average price of $25.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Equities analysts anticipate that CNB Financial Co. will post 2.04 EPS for the current year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.72 annualized dividend and a yield of 3.19%. CNB Financial’s payout ratio is currently 30.25%.

Analyst Upgrades and Downgrades

A number of analysts have commented on CCNE shares. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods reduced their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Monday, January 13th.

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.