Stieven Capital Advisors L.P. Increases Position in CNB Financial Corporation (NASDAQ:CCNE)

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

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of CNB Financial by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,725 shares of the bank's stock valued at $291,000 after buying an additional 437 shares during the period. Tower Research Capital LLC TRC lifted its holdings 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 buying an additional 1,807 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of CNB Financial by 14.0% during the 4th quarter. Wells Fargo & Company MN now owns 16,299 shares of the bank's stock valued at $405,000 after buying an additional 1,997 shares during the period. Invesco Ltd. lifted its holdings in shares of CNB Financial by 8.8% during the 4th quarter. Invesco Ltd. now owns 40,672 shares of the bank's stock valued at $1,011,000 after buying an additional 3,281 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in CNB Financial in the 4th quarter worth $84,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stephens assumed coverage on CNB Financial in a report on Monday, April 14th. They issued an "overweight" rating and a $26.50 target price on the stock. Keefe, Bruyette & Woods raised their target price on CNB Financial from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Friday.

CNB Financial Price Performance

NASDAQ:CCNE traded down $0.45 on Tuesday, reaching $23.83. 155,235 shares of the company's stock traded hands, compared to its average volume of 65,824. 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 stock has a 50-day simple moving average of $22.58 and a 200-day simple moving average of $23.22. The firm has a market cap of $499.93 million, a PE ratio of 10.23 and a beta of 0.64. CNB Financial Corporation has a 12 month low of $19.32 and a 12 month high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The bank reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. The business had revenue of $57.55 million for the quarter, compared to analysts' expectations of $54.05 million. CNB Financial had a return on equity of 9.80% and a net margin of 14.50%. Equities research analysts forecast that CNB Financial Corporation will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a yield of 3.02%. CNB Financial's dividend payout ratio is presently 30.90%.

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.