EJF Capital LLC lessened its position in shares of CNB Financial Corp (NASDAQ:CCNE) by 21.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,984 shares of the bank’s stock after selling 29,516 shares during the quarter. EJF Capital LLC owned approximately 0.69% of CNB Financial worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in CCNE. SG Americas Securities LLC acquired a new stake in shares of CNB Financial during the 1st quarter worth approximately $112,000. Mackay Shields LLC acquired a new stake in shares of CNB Financial during the 1st quarter worth approximately $223,000. Chicago Equity Partners LLC grew its holdings in shares of CNB Financial by 66.8% during the 1st quarter. Chicago Equity Partners LLC now owns 20,395 shares of the bank’s stock worth $593,000 after purchasing an additional 8,170 shares in the last quarter. Maltese Capital Management LLC acquired a new stake in shares of CNB Financial during the 2nd quarter worth approximately $651,000. Finally, New York State Common Retirement Fund grew its holdings in shares of CNB Financial by 115.7% during the 1st quarter. New York State Common Retirement Fund now owns 32,576 shares of the bank’s stock worth $948,000 after purchasing an additional 17,476 shares in the last quarter. 44.61% of the stock is currently owned by institutional investors.
Shares of NASDAQ:CCNE opened at $30.77 on Wednesday. CNB Financial Corp has a 1-year low of $23.82 and a 1-year high of $32.86. The company has a market cap of $471.25 million, a PE ratio of 16.14 and a beta of 0.73. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.
CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Friday, July 20th. The bank reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The business had revenue of $31.43 million for the quarter, compared to analyst estimates of $29.91 million. CNB Financial had a return on equity of 11.90% and a net margin of 18.85%. research analysts expect that CNB Financial Corp will post 2.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a $0.17 dividend. This is a positive change from CNB Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Thursday, August 30th. This represents a $0.68 annualized dividend and a yield of 2.21%. CNB Financial’s payout ratio is currently 38.42%.
CCNE has been the topic of several recent research reports. BidaskClub raised CNB Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research raised CNB Financial from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. CNB Financial currently has an average rating of “Hold” and a consensus target price of $31.50.
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. It 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.
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