1 day Ago By Defense World Staff
Renaissance Technologies LLC cut its stake in CNB Financial Co. ( NASDAQ:CCNE – Free Report ) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission.
The fund owned 49,001 shares of the bank’s stock after selling 5,700 shares during the quarter. Renaissance Technologies LLC owned approximately 0.23% of CNB Financial worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of CCNE. Rhumbline Advisers increased its position in CNB Financial by 1.8% in the 4th quarter.
Rhumbline Advisers now owns 31,557 shares of the bank’s stock worth $784,000 after purchasing an additional 565 shares during the last quarter. SG Americas Securities LLC increased its holdings in CNB Financial by 17.4% in the fourth quarter.
SG Americas Securities LLC now owns 8,808 shares of the bank’s stock worth $219,000 after buying an additional 1,305 shares during the last quarter. Wells Fargo & Company MN raised its position in CNB Financial by 14.0% during the fourth quarter.
Wells Fargo & Company MN now owns 16,299 shares of the bank’s stock valued at $405,000 after acquiring an additional 1,997 shares in the last quarter. Invesco Ltd. lifted its stake in CNB Financial by 8.
8% in the fourth quarter. Invesco Ltd. now owns 40,672 shares of the bank’s stock valued at $1,011,000 after acquiring an additional 3,281 shares during the last quarter.
Finally, Empowered Funds LLC grew its position in CNB Financial by 5.0% in the fourth quarter. Empowered Funds LLC now owns 72,406 shares of the bank’s stock worth $1,800,000 after acquiring an additional 3,450 shares in the last quarter.
52.35% of the stock is currently owned by hedge funds and other institutional investors. Analyst Upgrades and Downgrades CCNE has been the subject of several analyst reports.
StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods decreased their price target on CNB Financial from $27.
00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, April 16th. Finally, Stephens began coverage on CNB Financial in a research note on Monday, April 14th.
They issued an “overweight” rating and a $26.50 price objective on the stock. CNB Financial Trading Up 1.
1 % Shares of NASDAQ:CCNE opened at $22.16 on Wednesday. CNB Financial Co.
has a 52-week low of $18.60 and a 52-week high of $29.29.
The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.
95. The company has a market cap of $464.92 million, a P/E ratio of 9.
31 and a beta of 0.53. The stock’s 50-day moving average is $22.
42 and its 200-day moving average is $24.76. CNB Financial ( NASDAQ:CCNE – Get Free Report ) last issued its quarterly earnings results on Monday, April 14th.
The bank reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.
04. CNB Financial had a return on equity of 10.24% and a net margin of 14.
97%. The company had revenue of $57.55 million for the quarter, compared to the consensus estimate of $54.
05 million. Equities research analysts predict that CNB Financial Co. will post 2.
04 earnings per share for the current year. CNB Financial Announces Dividend The business 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.
72 annualized dividend and a yield of 3.25%. CNB Financial’s dividend payout ratio is 30.
90%. CNB Financial Profile ( Free Report ) 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.
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