Stifel Financial Corp Has $3.14 Million Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

Stifel Financial Corp lowered its holdings in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 19.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in CNB Financial by 618.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank's stock worth $52,000 after buying an additional 1,807 shares during the last quarter. State of Tennessee Department of Treasury acquired a new position in CNB Financial during the fourth quarter valued at approximately $196,000. Intech Investment Management LLC bought a new position in shares of CNB Financial in the fourth quarter valued at approximately $203,000. Dynamic Technology Lab Private Ltd bought a new stake in CNB Financial during the fourth quarter valued at about $211,000. Finally, SG Americas Securities LLC grew its holdings in CNB Financial by 17.4% in the 4th quarter. SG Americas Securities LLC now owns 8,808 shares of the bank's stock valued at $219,000 after buying an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company's stock.

CNB Financial Trading Down 0.6 %

Shares of CCNE traded down $0.13 during trading hours on Tuesday, reaching $22.44. The stock had a trading volume of 40,839 shares, compared to its average volume of 58,969. The firm has a 50-day moving average of $22.21 and a 200 day moving average of $24.69. 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 market cap of $470.85 million, a P/E ratio of 9.43 and a beta of 0.64. CNB Financial Co. has a 52 week low of $18.60 and a 52 week high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its earnings results on Monday, April 14th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. The business had revenue of $57.55 million during the quarter, compared to analysts' expectations of $54.05 million. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. On average, sell-side analysts expect that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, February 28th. CNB Financial's dividend payout ratio is 30.90%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of 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. Stephens started coverage on shares of CNB Financial in a research report on Monday, April 14th. They issued an "overweight" rating and a $26.50 price target on the stock. Finally, StockNews.com downgraded shares of CNB Financial from a "buy" rating to a "hold" rating in a research note on Friday, February 14th.

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.