Royce & Associates LP Has $9.34 Million Stock Holdings in CNB Financial Co. (NASDAQ:CCNE)

Royce & Associates LP decreased its stake in CNB Financial Co. (NASDAQ:CCNE) by 16.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,018 shares of the bank’s stock after selling 78,192 shares during the period. Royce & Associates LP owned about 1.85% of CNB Financial worth $9,336,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of CNB Financial by 73.9% in the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock valued at $604,000 after acquiring an additional 12,589 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of CNB Financial by 1.5% during the first quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock valued at $21,463,000 after purchasing an additional 15,870 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of CNB Financial during the first quarter worth about $81,000. Bank of New York Mellon Corp increased its stake in shares of CNB Financial by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock valued at $2,698,000 after buying an additional 4,973 shares during the period. Finally, American Century Companies Inc. raised its holdings in CNB Financial by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock valued at $7,289,000 after buying an additional 51,080 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Stock Down 1.1 %

Shares of CCNE opened at $27.63 on Monday. The company has a market capitalization of $579.95 million, a PE ratio of 11.81 and a beta of 0.68. The stock’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $22.66. 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 12 month low of $17.74 and a 12 month high of $29.29.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The business had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. On average, analysts anticipate that CNB Financial Co. will post 2.3 EPS for the current year.

CNB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, November 29th. CNB Financial’s dividend payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.