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

Man Group plc purchased a new stake in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,118 shares of the bank's stock, valued at approximately $525,000. Man Group plc owned 0.10% of CNB Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of 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 acquiring an additional 1,305 shares in the last quarter. Empowered Funds LLC raised its stake in CNB Financial by 5.0% during the fourth quarter. Empowered Funds LLC now owns 72,406 shares of the bank's stock worth $1,800,000 after purchasing an additional 3,450 shares during the period. Rhumbline Advisers grew its position in CNB Financial by 1.8% in the fourth quarter. Rhumbline Advisers now owns 31,557 shares of the bank's stock worth $784,000 after acquiring an additional 565 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of CNB Financial during the 4th quarter worth $285,000. Finally, Bailard Inc. boosted its stake in CNB Financial by 61.8% during the fourth quarter. Bailard Inc. now owns 25,653 shares of the bank's stock worth $638,000 after buying an additional 9,798 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCNE shares. Wall Street Zen cut shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Keefe, Bruyette & Woods dropped their price objective on shares of 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. Finally, Stephens began coverage on shares of CNB Financial in a research report on Monday, April 14th. They issued an "overweight" rating and a $26.50 target price on the stock.

CNB Financial Stock Performance

Shares of NASDAQ CCNE traded down $0.37 during midday trading on Wednesday, reaching $22.04. 60,803 shares of the company were exchanged, compared to its average volume of 61,332. The stock has a market cap of $462.38 million, a P/E ratio of 9.26 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 stock has a fifty day simple moving average of $21.97 and a 200 day simple moving average of $24.32. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its 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 net margin of 14.97% and a return on equity of 10.24%. The company had revenue of $57.55 million during the quarter, compared to analysts' expectations of $54.05 million. On average, research analysts forecast that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.27%. The ex-dividend date is Friday, May 30th. CNB Financial's payout ratio is currently 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.