Stieven Capital Advisors L.P. Has $4.48 Million Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

Stieven Capital Advisors L.P. lessened its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 219,678 shares of the bank’s stock after selling 3,000 shares during the quarter. Stieven Capital Advisors L.P. owned about 1.05% of CNB Financial worth $4,484,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CCNE. Acadian Asset Management LLC bought a new position in CNB Financial during the first quarter worth about $81,000. New York State Common Retirement Fund increased its holdings in CNB Financial by 14.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock valued at $178,000 after buying an additional 1,006 shares during the period. PNC Financial Services Group Inc. increased its holdings in 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 during the period. Staley Capital Advisers Inc. bought a new position in CNB Financial in the 4th quarter valued at about $258,000. Finally, BNP Paribas Financial Markets increased its holdings in CNB Financial by 21.0% in the 4th quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock valued at $385,000 after buying an additional 2,957 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

Analyst Upgrades and Downgrades

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

CNB Financial Trading Up 0.5 %

NASDAQ:CCNE traded up $0.11 during mid-day trading on Friday, hitting $24.31. 23,271 shares of the company’s stock were exchanged, compared to its average volume of 32,376. The company has a 50 day simple moving average of $22.62 and a 200-day simple moving average of $20.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial Co. has a fifty-two week low of $17.45 and a fifty-two week high of $26.87. The firm has a market capitalization of $510.51 million, a P/E ratio of 10.21 and a beta of 0.70.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $89.52 million for the quarter, compared to the consensus estimate of $55.30 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. As a group, research analysts expect that CNB Financial Co. will post 2.25 earnings per share for the current year.

CNB Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.96%. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s payout ratio is currently 29.41%.

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.