Ameriprise Financial Inc. Purchases 78,874 Shares of CNB Financial Co. (NASDAQ:CCNE)

Ameriprise Financial Inc. boosted its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,954 shares of the bank's stock after acquiring an additional 78,874 shares during the quarter. Ameriprise Financial Inc. owned 1.42% of CNB Financial worth $7,432,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in CNB Financial by 3.4% in 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. American Century Companies Inc. lifted its position in CNB Financial by 13.3% in the 4th quarter. American Century Companies Inc. now owns 455,640 shares of the bank's stock valued at $11,327,000 after acquiring an additional 53,661 shares in the last quarter. Northern Trust Corp lifted its position in CNB Financial by 2.2% in the 4th quarter. Northern Trust Corp now owns 206,990 shares of the bank's stock valued at $5,146,000 after acquiring an additional 4,385 shares in the last quarter. JPMorgan Chase & Co. lifted its position in CNB Financial by 17.9% in the 4th quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank's stock valued at $4,566,000 after acquiring an additional 27,874 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in CNB Financial by 5.0% in the 4th quarter. Empowered Funds LLC now owns 72,406 shares of the bank's stock valued at $1,800,000 after acquiring an additional 3,450 shares in the last quarter. 52.35% of the stock is owned by institutional investors.

CNB Financial Stock Up 3.1%

NASDAQ:CCNE traded up $0.67 on Tuesday, hitting $22.41. 46,480 shares of the company's stock were exchanged, compared to its average volume of 61,334. The firm has a 50-day moving average price of $21.97 and a 200-day moving average price of $24.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. CNB Financial Co. has a 52 week low of $18.60 and a 52 week high of $29.29. The company has a market cap of $470.14 million, a P/E ratio of 9.42 and a beta of 0.64.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly 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 firm had revenue of $57.55 million for the quarter, compared to analysts' expectations of $54.05 million. As a group, analysts expect that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Friday, May 30th. CNB Financial's dividend payout ratio is currently 30.90%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. 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 on the stock. Finally, Keefe, Bruyette & Woods cut their price target 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.

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.