CNB Financial Corp (NASDAQ:CCNE) insider Mark D. Breakey sold 413 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $29.48, for a total value of $12,175.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
CNB Financial Corp (NASDAQ:CCNE) traded up $0.33 during trading hours on Friday, reaching $30.82. The company’s stock had a trading volume of 24,232 shares, compared to its average volume of 26,445. CNB Financial Corp has a 1 year low of $20.91 and a 1 year high of $30.97. The stock has a market capitalization of $454.40, a PE ratio of 16.80 and a beta of 0.80. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.98 and a quick ratio of 0.98.
CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Friday, February 2nd. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. CNB Financial had a return on equity of 11.16% and a net margin of 18.31%. The business had revenue of $29.34 million during the quarter, compared to analysts’ expectations of $29.26 million. sell-side analysts anticipate that CNB Financial Corp will post 2.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Wednesday, February 28th. CNB Financial’s dividend payout ratio is currently 42.04%.
Several hedge funds have recently made changes to their positions in CCNE. CNB Bank acquired a new stake in shares of CNB Financial during the fourth quarter valued at $4,420,000. Martingale Asset Management L P acquired a new stake in CNB Financial in the 4th quarter worth about $1,883,000. Vanguard Group Inc. boosted its stake in CNB Financial by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 532,453 shares of the bank’s stock worth $12,763,000 after buying an additional 42,057 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in CNB Financial by 11.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 380,396 shares of the bank’s stock worth $9,118,000 after buying an additional 38,699 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in CNB Financial in the 4th quarter worth about $522,000. Institutional investors and hedge funds own 42.89% of the company’s stock.
Several research firms have recently commented on CCNE. BidaskClub upgraded CNB Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 14th. Boenning Scattergood reiterated a “buy” rating and issued a $29.50 price objective on shares of CNB Financial in a research report on Monday, February 5th. Finally, Zacks Investment Research cut CNB Financial from a “buy” rating to a “sell” rating in a research report on Tuesday, February 20th.
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About CNB Financial
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
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