Royce & Associates LP Sells 78,192 Shares of CNB Financial Co. (NASDAQ:CCNE)

Royce & Associates LP trimmed its position in CNB Financial Co. (NASDAQ:CCNE) by 16.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,018 shares of the bank’s stock after selling 78,192 shares during the period. Royce & Associates LP’s holdings in CNB Financial were worth $9,336,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in CNB Financial by 16.7% in the second quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after acquiring an additional 51,080 shares during the period. Unison Advisors LLC bought a new position in shares of CNB Financial in the 3rd quarter worth $692,000. Dimensional Fund Advisors LP grew its position in CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after purchasing an additional 24,666 shares during the period. Vanguard Group Inc. increased its stake in CNB Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock valued at $21,463,000 after purchasing an additional 15,870 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in CNB Financial by 73.9% during the first quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock worth $604,000 after buying an additional 12,589 shares during the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Stock Performance

Shares of CNB Financial stock opened at $27.63 on Monday. The company has a market cap of $579.95 million, a PE ratio of 11.81 and a beta of 0.68. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. CNB Financial Co. has a 52 week low of $17.74 and a 52 week high of $29.29. The business has a 50 day moving average price of $24.91 and a 200-day moving average price of $22.66.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The business had revenue of $94.21 million during the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. Equities analysts anticipate that CNB Financial Co. will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, November 29th. CNB Financial’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of 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.