Wealth Enhancement Advisory Services LLC Grows Position in CNB Financial Co. (NASDAQ:CCNE)

Wealth Enhancement Advisory Services LLC increased its stake in shares of CNB Financial Co. (NASDAQ:CCNE - Free Report) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,155 shares of the bank's stock after buying an additional 19,729 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.69% of CNB Financial worth $3,609,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC grew its holdings in CNB Financial by 618.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank's stock worth $52,000 after buying an additional 1,807 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in CNB Financial in 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. State of Tennessee Department of Treasury bought a new position in CNB Financial in the 4th quarter valued at $196,000. Finally, Intech Investment Management LLC bought a new position in CNB Financial in the 4th quarter valued at $203,000. Institutional investors own 52.35% of the company's stock.

CNB Financial Stock Performance

Shares of NASDAQ CCNE traded up $0.58 during trading on Friday, reaching $21.98. 60,015 shares of the stock traded hands, compared to its average volume of 62,125. CNB Financial Co. has a 52-week low of $18.60 and a 52-week high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The company has a 50-day moving average of $21.85 and a 200-day moving average of $24.00. The stock has a market capitalization of $461.12 million, a P/E ratio of 9.24 and a beta of 0.63.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued 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. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. The firm had revenue of $57.55 million for the quarter, compared to analysts' expectations of $54.05 million. Analysts forecast that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 annualized dividend and a yield of 3.28%. CNB Financial's dividend payout ratio is currently 30.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCNE. Keefe, Bruyette & Woods reduced their price objective on CNB Financial from $27.00 to $25.00 and set a "market perform" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut CNB Financial from a "buy" rating to a "hold" rating in a research report on Friday, February 14th. Finally, Stephens started coverage on CNB Financial in a research report on Monday, April 14th. They set an "overweight" rating and a $26.50 price target on the stock.

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.