Intech Investment Management LLC Acquires Shares of 8,153 CNB Financial Co. (NASDAQ:CCNE)

Intech Investment Management LLC bought a new position in shares of CNB Financial Co. (NASDAQ:CCNE) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,153 shares of the bank’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its stake in CNB Financial by 11.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock worth $1,128,000 after acquiring an additional 4,850 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in CNB Financial in the third quarter valued at about $640,000. Martingale Asset Management L P lifted its position in CNB Financial by 1.6% during 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. PDT Partners LLC acquired a new stake in CNB Financial during the third quarter worth about $221,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in CNB Financial by 0.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock valued at $3,460,000 after buying an additional 390 shares during the period. 52.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on CCNE shares. StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods decreased their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th.

CNB Financial Stock Down 0.1 %

CCNE stock opened at $22.57 on Thursday. The stock has a market capitalization of $473.52 million, a P/E ratio of 9.48 and a beta of 0.65. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $24.53 and a 200-day moving average price of $25.16. CNB Financial Co. has a 12 month low of $17.74 and a 12 month high of $29.29.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share for the quarter, topping 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%. As a group, equities research analysts anticipate that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.19%. The ex-dividend date was Friday, February 28th. CNB Financial’s dividend payout ratio (DPR) is currently 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.