SG Americas Securities LLC Buys Shares of 7,503 CNB Financial Co. (NASDAQ:CCNE)

SG Americas Securities LLC purchased a new stake in shares of CNB Financial Co. (NASDAQ:CCNE) in the 3rd quarter, Holdings Channel reports. The fund purchased 7,503 shares of the bank’s stock, valued at approximately $181,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCNE. Acadian Asset Management LLC bought a new stake in CNB Financial during the first quarter valued at approximately $81,000. PNC Financial Services Group Inc. grew its position in shares of CNB Financial by 41.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock valued at $200,000 after acquiring an additional 2,599 shares during the period. AQR Capital Management LLC increased its stake in shares of CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after purchasing an additional 568 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of CNB Financial by 73.9% in the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock worth $604,000 after purchasing an additional 12,589 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in CNB Financial by 8.1% in the 1st quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock worth $1,240,000 after purchasing an additional 4,550 shares during the period. Hedge funds and other institutional investors own 52.35% of the company’s stock.

CNB Financial Stock Performance

NASDAQ CCNE opened at $25.47 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial Co. has a twelve month low of $17.45 and a twelve month high of $26.87. The business has a 50-day moving average price of $23.80 and a 200-day moving average price of $21.69. The firm has a market cap of $534.97 million, a price-to-earnings ratio of 10.70 and a beta of 0.69.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The firm had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. As a group, equities research analysts predict that CNB Financial Co. will post 2.25 EPS for the current fiscal year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, August 30th. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded CNB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday.

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.