Man Group plc Invests $525,000 in CNB Financial Co. (NASDAQ:CCNE)

Man Group plc purchased a new position in CNB Financial Co. (NASDAQ:CCNE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 21,118 shares of the bank's stock, valued at approximately $525,000. Man Group plc owned about 0.10% of CNB Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Prudential Financial Inc. lifted its stake in shares of CNB Financial by 30.6% during the 4th quarter. Prudential Financial Inc. now owns 49,046 shares of the bank's stock valued at $1,219,000 after buying an additional 11,500 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of CNB Financial by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank's stock valued at $25,139,000 after buying an additional 33,424 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in CNB Financial by 17.9% during the fourth quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank's stock worth $4,566,000 after purchasing an additional 27,874 shares during the last quarter. SG Americas Securities LLC boosted 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 worth $219,000 after buying an additional 1,305 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of CNB Financial during the 4th quarter valued at $203,000. 52.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods decreased their price target on CNB Financial from $27.00 to $25.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 16th. Stephens assumed coverage on CNB Financial in a research note on Monday, April 14th. They issued an "overweight" rating and a $26.50 price target on the stock. Finally, Wall Street Zen lowered shares of CNB Financial from a "buy" rating to a "hold" rating in a report on Friday, February 14th.

CNB Financial Stock Down 0.8%

Shares of CNB Financial stock traded down $0.18 on Friday, reaching $21.77. The company's stock had a trading volume of 11,594 shares, compared to its average volume of 80,974. CNB Financial Co. has a 52 week low of $18.59 and a 52 week high of $29.29. The firm's fifty day simple moving average is $21.95 and its two-hundred day simple moving average is $24.26. The company has a market capitalization of $456.61 million, a price-to-earnings ratio of 9.14 and a beta of 0.64. 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 (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $57.55 million for the quarter, compared to the consensus estimate of $54.05 million. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Equities analysts anticipate that CNB Financial Co. will post 2.04 earnings per share for the current year.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.31%. The ex-dividend date is Friday, May 30th. CNB Financial's dividend payout ratio (DPR) is presently 30.90%.

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.