9,185 Shares in CNB Financial Co. (NASDAQ:CCNE) Purchased by PDT Partners LLC

PDT Partners LLC bought a new position in shares of CNB Financial Co. (NASDAQ:CCNE) during the 3rd quarter, Holdings Channel.com reports. The firm bought 9,185 shares of the bank’s stock, valued at approximately $221,000.

Other large investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its holdings in shares of CNB Financial by 1.6% in the 3rd 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. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of CNB Financial in the 3rd quarter worth about $640,000. Thrivent Financial for Lutherans raised its holdings in shares of CNB Financial by 11.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock worth $1,128,000 after purchasing an additional 4,850 shares during the period. Empowered Funds LLC raised its holdings in shares of CNB Financial by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 68,956 shares of the bank’s stock worth $1,659,000 after purchasing an additional 3,484 shares during the period. Finally, Beese Fulmer Investment Management Inc. purchased a new position in shares of CNB Financial in the 3rd quarter worth about $226,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

CNB Financial Stock Performance

Shares of NASDAQ:CCNE opened at $27.88 on Thursday. The company has a market cap of $585.20 million, a P/E ratio of 11.84 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. CNB Financial Co. has a one year low of $17.74 and a one year high of $29.29. The business’s 50-day simple moving average is $25.81 and its 200 day simple moving average is $23.33.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. On average, sell-side analysts forecast that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. CNB Financial’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analyst Weigh In

CCNE has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price objective on CNB Financial from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

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.