American Century Companies Inc. Has $7.29 Million Position in CNB Financial Co. (NASDAQ:CCNE)

American Century Companies Inc. lifted its stake in CNB Financial Co. (NASDAQ:CCNE) by 16.7% during the second quarter, HoldingsChannel reports. The fund owned 357,127 shares of the bank’s stock after purchasing an additional 51,080 shares during the quarter. American Century Companies Inc.’s holdings in CNB Financial were worth $7,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC purchased a new position in CNB Financial in the first quarter valued at about $81,000. PNC Financial Services Group Inc. grew its stake in shares of CNB Financial by 41.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after buying an additional 2,599 shares in the last quarter. Staley Capital Advisers Inc. acquired a new position in CNB Financial in the fourth quarter worth approximately $258,000. BNP Paribas Financial Markets raised its position in CNB Financial by 21.0% during the fourth quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock valued at $385,000 after acquiring an additional 2,957 shares in the last quarter. Finally, BHZ Capital Management LP grew its position in CNB Financial by 1.4% in the fourth quarter. BHZ Capital Management LP now owns 57,904 shares of the bank’s stock worth $1,308,000 after acquiring an additional 791 shares in the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CNB Financial Stock Down 1.1 %

Shares of CCNE stock opened at $24.55 on Tuesday. The stock’s 50 day simple moving average is $23.87 and its 200 day simple moving average is $21.13. CNB Financial Co. has a twelve month low of $17.45 and a twelve month high of $26.87. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $515.65 million, a price-to-earnings ratio of 10.32 and a beta of 0.69.

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 net margin of 15.30% and a return on equity of 10.37%. The business had revenue of $89.52 million during the quarter, compared to analysts’ expectations of $55.30 million. As a group, research analysts predict that CNB Financial Co. will post 2.25 EPS for the current year.

CNB Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.93%. CNB Financial’s payout ratio is presently 30.25%.

CNB Financial 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.