CNB Financial Corp (CCNE) Stake Lessened by Royce & Associates LP
Royce & Associates LP decreased its position in CNB Financial Corp (NASDAQ:CCNE) by 3.0% in the 4th quarter, HoldingsChannel reports. The fund owned 699,388 shares of the bank’s stock after selling 21,750 shares during the quarter. Royce & Associates LP’s holdings in CNB Financial were worth $18,352,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of CNB Financial in the 3rd quarter worth $208,000. State Board of Administration of Florida Retirement System bought a new stake in shares of CNB Financial in the 3rd quarter worth $215,000. Wells Fargo & Company MN grew its position in CNB Financial by 2.0% during the second quarter. Wells Fargo & Company MN now owns 11,175 shares of the bank’s stock valued at $268,000 after buying an additional 217 shares during the period. Voya Investment Management LLC grew its position in CNB Financial by 8.6% during the second quarter. Voya Investment Management LLC now owns 12,661 shares of the bank’s stock valued at $303,000 after buying an additional 1,001 shares during the period. Finally, Chicago Equity Partners LLC bought a new position in CNB Financial during the fourth quarter valued at about $321,000. Hedge funds and other institutional investors own 41.85% of the company’s stock.
CNB Financial Corp (NASDAQ CCNE) opened at $28.34 on Thursday. The firm has a market cap of $423.44, a PE ratio of 15.67 and a beta of 0.83. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.11. CNB Financial Corp has a 1 year low of $20.91 and a 1 year high of $29.76.
CCNE has been the subject of several research reports. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Tuesday, January 2nd. BidaskClub lowered shares of CNB Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. ValuEngine lowered shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Boenning Scattergood restated a “buy” rating and set a $29.50 price target on shares of CNB Financial in a research report on Monday, February 5th.
In related news, Director Francis X. Straub III purchased 1,000 shares of CNB Financial stock in a transaction that occurred on Wednesday, February 7th. The stock was bought at an average price of $26.91 per share, for a total transaction of $26,910.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.
CNB Financial Company Profile
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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