Stifel Financial Corp Decreases Stake in CNB Financial Co. (NASDAQ:CCNE)

Stifel Financial Corp cut its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,353 shares of the bank's stock after selling 29,687 shares during the period. Stifel Financial Corp owned approximately 0.60% of CNB Financial worth $3,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its position in CNB Financial by 274.7% during the 3rd quarter. Barclays PLC now owns 27,528 shares of the bank's stock worth $663,000 after acquiring an additional 20,182 shares during the last quarter. Franklin Resources Inc. raised its holdings in CNB Financial by 95.1% during the third quarter. Franklin Resources Inc. now owns 22,032 shares of the bank's stock worth $530,000 after acquiring an additional 10,737 shares in the last quarter. JPMorgan Chase & Co. grew its stake in CNB Financial by 11.2% in the third quarter. JPMorgan Chase & Co. now owns 155,801 shares of the bank's stock valued at $3,749,000 after purchasing an additional 15,714 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of CNB Financial by 19.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 150,309 shares of the bank's stock valued at $3,616,000 after acquiring an additional 24,883 shares during the period. Finally, SG Americas Securities LLC raised its stake in CNB Financial by 17.4% in the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank's stock valued at $219,000 after purchasing an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

CNB Financial Trading Up 0.4 %

NASDAQ:CCNE traded up $0.10 on Thursday, hitting $22.39. The stock had a trading volume of 5,332 shares, compared to its average volume of 58,935. The stock has a market cap of $469.74 million, a price-to-earnings ratio of 9.41 and a beta of 0.64. CNB Financial Co. has a 1-year low of $18.60 and a 1-year high of $29.29. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The company has a fifty day moving average price of $22.11 and a two-hundred day moving average price of $24.66.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $57.55 million during the quarter, compared to the consensus estimate of $54.05 million. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. Equities research analysts expect that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, February 28th. This represents a $0.72 annualized dividend and a yield of 3.22%. CNB Financial's dividend payout ratio is currently 30.90%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on CNB Financial from $27.00 to $25.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 16th. Stephens assumed coverage on shares of CNB Financial in a research report on Monday, April 14th. They set an "overweight" rating and a $26.50 price target for the company. Finally, StockNews.com cut CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th.

About CNB Financial

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.