Segall Bryant & Hamill LLC Purchases New Shares in CNB Financial Corporation (NASDAQ:CCNE)

Segall Bryant & Hamill LLC acquired a new position in CNB Financial Corporation (NASDAQ:CCNE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 96,980 shares of the bank's stock, valued at approximately $2,158,000. Segall Bryant & Hamill LLC owned about 0.46% of CNB Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CCNE. Tower Research Capital LLC TRC raised 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 during the period. Public Employees Retirement System of Ohio bought a new stake in shares of CNB Financial in the fourth quarter valued at $84,000. Lazard Asset Management LLC bought a new stake in shares of CNB Financial in the fourth quarter valued at $143,000. State of Tennessee Department of Treasury bought a new stake in shares of CNB Financial during the 4th quarter valued at $196,000. Finally, Intech Investment Management LLC purchased a new stake in CNB Financial during the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 52.35% of the company's stock.

CNB Financial Price Performance

CCNE traded down $0.48 during trading on Friday, reaching $23.70. 83,318 shares of the company were exchanged, compared to its average volume of 66,357. The company has a market cap of $497.23 million, a price-to-earnings ratio of 10.17 and a beta of 0.64. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.19. The company's 50-day moving average is $22.73 and its two-hundred day moving average is $23.20. CNB Financial Corporation has a 12-month low of $19.32 and a 12-month high of $29.29.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.72 annualized dividend and a dividend yield of 3.04%. CNB Financial's dividend payout ratio (DPR) is presently 30.90%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCNE shares. Stephens started coverage on CNB Financial in a report on Monday, April 14th. They set an "overweight" rating and a $26.50 price objective on the stock. Keefe, Bruyette & Woods increased their price objective on CNB Financial from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Friday, July 11th.

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.