CNB Financial Co. (NASDAQ:CCNE) Short Interest Down 15.6% in November

CNB Financial Co. (NASDAQ:CCNE) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 69,500 shares, a decline of 15.6% from the November 15th total of 82,300 shares. Based on an average daily volume of 51,700 shares, the short-interest ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCNE. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods raised their target price on shares of CNB Financial from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

CNB Financial Trading Up 0.1 %

NASDAQ CCNE traded up $0.04 on Monday, hitting $27.29. The company’s stock had a trading volume of 17,033 shares, compared to its average volume of 46,696. The firm has a market cap of $572.93 million, a P/E ratio of 11.68 and a beta of 0.70. CNB Financial has a 52-week low of $17.74 and a 52-week high of $29.29. The company’s 50-day simple moving average is $26.50 and its 200 day simple moving average is $23.77. 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 (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. The firm had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. Research analysts predict that CNB Financial will post 2.3 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Friday, November 29th. CNB Financial’s dividend payout ratio (DPR) is 30.77%.

Institutional Trading of CNB Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of CNB Financial by 0.3% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 143,790 shares of the bank’s stock valued at $3,460,000 after acquiring an additional 390 shares during the last quarter. AQR Capital Management LLC increased its holdings in CNB Financial by 5.7% in the 2nd quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock worth $215,000 after acquiring an additional 568 shares in the last quarter. Martingale Asset Management L P raised its position in shares of CNB Financial by 1.6% during the 3rd quarter. Martingale Asset Management L P now owns 62,534 shares of the bank’s stock valued at $1,505,000 after purchasing an additional 1,013 shares during the period. Empowered Funds LLC raised its holdings in CNB Financial by 5.3% during the third quarter. Empowered Funds LLC now owns 68,956 shares of the bank’s stock valued at $1,659,000 after acquiring an additional 3,484 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in CNB Financial by 11.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 46,851 shares of the bank’s stock worth $1,128,000 after purchasing an additional 4,850 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

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.