Jump Financial LLC Invests $238,000 in CNB Financial Corporation $CCNE

Key Points

• Jump Financial LLC acquired 10,700 shares of CNB Financial Corporation in Q1, valued at approximately $238,000, increasing its ownership to 0.05% of the company.
• CNB Financial reported earnings of $0.63 per share for the last quarter, exceeding analysts' expectations of $0.58, along with a revenue of $61.80 million.
• The company announced a quarterly dividend of $0.18 per share, representing a 2.8% dividend yield, with the ex-dividend date set for August 29th.

Jump Financial LLC bought a new position in CNB Financial Corporation (NASDAQ:CCNE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,700 shares of the bank's stock, valued at approximately $238,000. Jump Financial LLC owned approximately 0.05% of CNB Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of CNB Financial by 618.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank's stock valued at $52,000 after acquiring an additional 1,807 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in CNB Financial during the 4th quarter valued at $84,000. Lazard Asset Management LLC bought a new position in CNB Financial in the 4th quarter valued at $143,000. Jacobs Levy Equity Management Inc. bought a new position in shares of CNB Financial during the 4th quarter worth $219,000. Finally, Cubist Systematic Strategies LLC purchased a new position in CNB Financial in the fourth quarter valued at about $221,000. Institutional investors own 52.35% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on CNB Financial from $26.00 to $29.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.75.

CNB Financial Trading Up 0.2%

Shares of CCNE stock traded up $0.07 on Monday, hitting $26.12. The stock had a trading volume of 37,210 shares, compared to its average volume of 97,637. The company has a fifty day moving average price of $24.36 and a two-hundred day moving average price of $23.04. CNB Financial Corporation has a twelve month low of $19.32 and a twelve month high of $29.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.18. The firm has a market cap of $769.87 million, a P/E ratio of 10.94 and a beta of 0.72.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.05. The firm had revenue of $61.80 million for 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%. As a group, analysts forecast 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. Stockholders of record on Friday, August 29th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. CNB Financial's payout ratio is currently 30.25%.

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.