CNB Financial Co. (NASDAQ:CCNE) Sees Large Decline in Short Interest

CNB Financial Co. (NASDAQ:CCNE - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 67,600 shares, a decrease of 21.4% from the March 15th total of 86,000 shares. Based on an average daily trading volume, of 47,900 shares, the short-interest ratio is currently 1.4 days.

Institutional Trading of CNB Financial

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in CNB Financial during the 3rd quarter worth approximately $160,000. Bailard Inc. acquired a new position in shares of CNB Financial during the third quarter worth $311,000. North Reef Capital Management LP increased its holdings in CNB Financial by 2.6% in the third quarter. North Reef Capital Management LP now owns 81,244 shares of the bank's stock valued at $1,471,000 after buying an additional 2,059 shares during the last quarter. Pekin Hardy Strauss Inc. raised its stake in CNB Financial by 0.3% in the third quarter. Pekin Hardy Strauss Inc. now owns 294,728 shares of the bank's stock valued at $5,338,000 after buying an additional 740 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in CNB Financial by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,205,918 shares of the bank's stock worth $21,839,000 after buying an additional 12,300 shares during the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.

CNB Financial Stock Up 1.0 %

CNB Financial stock traded up $0.19 during mid-day trading on Friday, reaching $19.34. 28,787 shares of the company's stock were exchanged, compared to its average volume of 40,270. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial has a twelve month low of $16.43 and a twelve month high of $23.40. The company has a market cap of $406.53 million, a P/E ratio of 7.55 and a beta of 0.78. The company has a fifty day moving average of $20.07 and a 200-day moving average of $20.32.

CNB Financial (NASDAQ:CCNE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. CNB Financial had a return on equity of 11.69% and a net margin of 17.74%. The business had revenue of $56.83 million for the quarter, compared to analysts' expectations of $55.10 million. Sell-side analysts expect that CNB Financial will post 2.4 EPS for the current year.

CNB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Thursday, February 29th. CNB Financial's dividend payout ratio is presently 27.34%.

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.

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