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 acquired a new stake in CNB Financial Corporation (NASDAQ:CCNE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 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 quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in shares of CNB Financial by 618.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank's stock valued at $52,000 after buying an additional 1,807 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in CNB Financial during the 4th quarter worth $84,000. Lazard Asset Management LLC acquired a new position in CNB Financial during the 4th quarter worth $143,000. Blair William & Co. IL grew its stake in CNB Financial by 11.9% during the 1st quarter. Blair William & Co. IL now owns 9,508 shares of the bank's stock worth $212,000 after purchasing an additional 1,008 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in CNB Financial during the 4th quarter worth $219,000. 52.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their target price on 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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $27.75.

CNB Financial Stock Down 0.3%

Shares of NASDAQ:CCNE traded down $0.09 on Tuesday, hitting $26.12. 16,100 shares of the company's stock were exchanged, compared to its average volume of 97,606. The firm's 50-day moving average is $24.43 and its 200 day moving average is $23.05. The company has a market capitalization of $769.87 million, a PE ratio of 10.95 and a beta of 0.72. CNB Financial Corporation has a 1-year low of $19.32 and a 1-year high of $29.29. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial (NASDAQ:CCNE - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $61.80 million during the quarter, compared to analysts' expectations of $49.97 million. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. Sell-side analysts predict that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 29th. CNB Financial's dividend 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.