Dynamic Technology Lab Private Ltd Takes Position in CNB Financial Co. (NASDAQ:CCNE)

Dynamic Technology Lab Private Ltd bought a new position in shares of CNB Financial Co. (NASDAQ:CCNE) during the fourth quarter, HoldingsChannel reports. The firm bought 8,483 shares of the bank’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCNE. Intech Investment Management LLC bought a new stake in shares of CNB Financial in the 4th quarter worth approximately $203,000. SG Americas Securities LLC raised its stake in shares of CNB Financial by 17.4% in the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank’s stock valued at $219,000 after purchasing an additional 1,305 shares in the last quarter. Summit Global Investments acquired a new stake in CNB Financial during the fourth quarter worth $247,000. Los Angeles Capital Management LLC bought a new stake in CNB Financial in the 4th quarter valued at $285,000. Finally, Wells Fargo & Company MN raised its stake in shares of CNB Financial by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 16,299 shares of the bank’s stock valued at $405,000 after buying an additional 1,997 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods lowered their price objective on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th.

CNB Financial Stock Performance

CNB Financial stock opened at $20.62 on Friday. CNB Financial Co. has a 52-week low of $17.74 and a 52-week high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The stock has a fifty day moving average price of $23.53 and a two-hundred day moving average price of $24.89. The firm has a market capitalization of $432.61 million, a P/E ratio of 8.66 and a beta of 0.53.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. As a group, analysts anticipate that CNB Financial Co. will post 2.04 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date was Friday, February 28th. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

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.