American Century Companies Inc. Increases Stock Holdings in CNB Financial Corporation $CCNE

Key Points

• American Century Companies Inc. has increased its stake in CNB Financial Corporation by purchasing an additional 48,011 shares, bringing their total ownership to approximately 2.40% of the company.
• CNB Financial recently announced a quarterly dividend of $0.18 per share, with a yield of 2.8% and a payout ratio of 30.25%.
• The stock price of CNB Financial is currently $26.15, with a market cap of $770.90 million and a price-to-earnings ratio of 10.99.

American Century Companies Inc. grew its position in CNB Financial Corporation (NASDAQ:CCNE - Free Report) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,651 shares of the bank's stock after acquiring an additional 48,011 shares during the quarter. American Century Companies Inc. owned about 2.40% of CNB Financial worth $11,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CCNE. Segall Bryant & Hamill LLC purchased a new position in shares of CNB Financial in the first quarter valued at approximately $2,158,000. Stieven Capital Advisors L.P. grew its stake in CNB Financial by 37.4% during the 1st quarter. Stieven Capital Advisors L.P. now owns 291,390 shares of the bank's stock valued at $6,483,000 after acquiring an additional 79,312 shares in the last quarter. Ameriprise Financial Inc. grew its stake in CNB Financial by 35.8% during the 4th quarter. Ameriprise Financial Inc. now owns 298,954 shares of the bank's stock valued at $7,432,000 after acquiring an additional 78,874 shares in the last quarter. Nuveen LLC purchased a new stake in CNB Financial during the 1st quarter valued at about $1,024,000. Finally, Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 33,424 shares in the last quarter. Hedge funds and other institutional investors own 52.35% of the company's stock.

CNB Financial Trading Down 0.8%

CCNE stock traded down $0.21 during mid-day trading on Friday, hitting $26.31. 97,487 shares of the company were exchanged, compared to its average volume of 152,635. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $775.62 million, a P/E ratio of 11.05 and a beta of 0.72. The business has a fifty day simple moving average of $24.01 and a 200-day simple moving average of $23.04. CNB Financial Corporation has a 12-month low of $19.32 and a 12-month high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $61.80 million during the quarter, compared to analyst estimates of $49.97 million. CNB Financial had a net margin of 14.56% and a return on equity of 9.79%. On average, equities research analysts predict that CNB Financial Corporation will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, August 29th. CNB Financial's dividend payout ratio (DPR) is 30.25%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their target price on shares of CNB Financial from $26.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.75.

CNB Financial 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.