JPMorgan Chase & Co. Purchases 27,874 Shares of CNB Financial Co. (NASDAQ:CCNE)

JPMorgan Chase & Co. boosted its stake in CNB Financial Co. (NASDAQ:CCNE - Free Report) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,675 shares of the bank's stock after acquiring an additional 27,874 shares during the period. JPMorgan Chase & Co. owned 0.88% of CNB Financial worth $4,566,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Prudential Financial Inc. increased its position in 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 purchasing an additional 11,500 shares during the period. American Century Companies Inc. grew its holdings in shares of CNB Financial by 13.3% in the 4th quarter. American Century Companies Inc. now owns 455,640 shares of the bank's stock worth $11,327,000 after acquiring an additional 53,661 shares during the period. Summit Global Investments acquired a new stake in shares of CNB Financial in the 4th quarter worth approximately $247,000. Intech Investment Management LLC purchased a new position in shares of CNB Financial during the 4th quarter worth $203,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of CNB Financial by 85.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 49,349 shares of the bank's stock valued at $1,227,000 after buying an additional 22,758 shares during the period. Institutional investors and hedge funds own 52.35% of the company's stock.

CNB Financial Stock Up 0.9 %

NASDAQ CCNE traded up $0.20 during trading on Thursday, reaching $21.93. The company's stock had a trading volume of 13,994 shares, compared to its average volume of 58,193. The stock has a market capitalization of $459.99 million, a PE ratio of 9.21 and a beta of 0.53. The business has a 50-day moving average price of $22.74 and a 200-day moving average price of $24.78. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. CNB Financial Co. has a 1-year low of $18.60 and a 1-year high of $29.29.

CNB Financial (NASDAQ:CCNE - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $57.55 million for the quarter, compared to analyst estimates of $54.05 million. On average, research analysts forecast that CNB Financial Co. will post 2.04 earnings per share for the current fiscal year.

CNB Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, February 28th. CNB Financial's payout ratio is 30.90%.

Analyst Ratings Changes

CCNE has been the subject of a number of analyst reports. 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 for the company. StockNews.com cut CNB Financial from a "buy" rating to a "hold" rating in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of CNB Financial from $27.00 to $25.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 16th.

About CNB Financial

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.