Stieven Capital Advisors L.P. Grows Stock Holdings in CNB Financial Corporation (NASDAQ:CCNE)

Stieven Capital Advisors L.P. raised its stake in CNB Financial Corporation (NASDAQ:CCNE - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,390 shares of the bank's stock after buying an additional 79,312 shares during the period. Stieven Capital Advisors L.P. owned about 1.39% of CNB Financial worth $6,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of CNB Financial by 29.1% in the 4th quarter. Bank of America Corp DE now owns 33,554 shares of the bank's stock valued at $834,000 after purchasing an additional 7,559 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of CNB Financial in the 4th quarter valued at about $84,000. Dimensional Fund Advisors LP raised its stake in shares of CNB Financial by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,011,205 shares of the bank's stock worth $25,139,000 after acquiring an additional 33,424 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of CNB Financial by 30.6% during the 4th quarter. Prudential Financial Inc. now owns 49,046 shares of the bank's stock worth $1,219,000 after acquiring an additional 11,500 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of CNB Financial by 17.9% during the 4th quarter. JPMorgan Chase & Co. now owns 183,675 shares of the bank's stock worth $4,566,000 after acquiring an additional 27,874 shares in the last quarter. Institutional investors own 52.35% of the company's stock.

CNB Financial Trading Down 2.2%

NASDAQ CCNE opened at $23.68 on Friday. CNB Financial Corporation has a 12-month low of $19.32 and a 12-month high of $29.29. The company has a fifty day simple moving average of $22.58 and a two-hundred day simple moving average of $23.25. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.19. The stock has a market cap of $496.81 million, a P/E ratio of 10.16 and a beta of 0.64.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings data 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 14.50% and a return on equity of 9.80%. The business had revenue of $57.55 million during the quarter, compared to the consensus estimate of $54.05 million. On average, analysts forecast that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid 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 payout ratio is currently 30.90%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCNE. Stephens began coverage on shares of CNB Financial in a research note on Monday, April 14th. They set an "overweight" rating and a $26.50 price objective for the company. Keefe, Bruyette & Woods boosted their price objective on shares of CNB Financial from $25.00 to $26.00 and gave the stock a "market perform" rating in a research note on Friday.

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.

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