Dimensional Fund Advisors LP Has $43.61 Million Stock Position in CNB Financial Corporation $CCNE

Dimensional Fund Advisors LP increased its stake in shares of CNB Financial Corporation (NASDAQ:CCNE) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,505,993 shares of the bank’s stock after acquiring an additional 27,236 shares during the period. Dimensional Fund Advisors LP owned about 0.05% of CNB Financial worth $43,613,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CCNE. Wellington Management Group LLP boosted its position in CNB Financial by 116.1% during the third quarter. Wellington Management Group LLP now owns 1,876,033 shares of the bank’s stock valued at $45,400,000 after purchasing an additional 1,007,751 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CNB Financial by 38.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,572,656 shares of the bank’s stock worth $38,058,000 after purchasing an additional 435,300 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of CNB Financial by 335.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 266,663 shares of the bank’s stock worth $6,453,000 after purchasing an additional 205,464 shares in the last quarter. Fourthstone LLC raised its stake in shares of CNB Financial by 72.1% during the 4th quarter. Fourthstone LLC now owns 279,557 shares of the bank’s stock worth $7,316,000 after purchasing an additional 117,100 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of CNB Financial by 67.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,165 shares of the bank’s stock worth $6,272,000 after purchasing an additional 104,516 shares in the last quarter. Institutional investors own 52.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CCNE shares. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $37.00 price target (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. DA Davidson increased their price target on shares of CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of CNB Financial in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CNB Financial currently has an average rating of “Moderate Buy” and an average target price of $36.00.

CNB Financial Stock Performance

CCNE opened at $35.54 on Tuesday. The business has a 50 day moving average of $33.06 and a 200-day moving average of $30.51. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 11.43 and a beta of 0.63. CNB Financial Corporation has a 12-month low of $21.63 and a 12-month high of $36.17.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Thursday, July 23rd. The bank reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. CNB Financial had a net margin of 19.37% and a return on equity of 13.02%. The business had revenue of $88.52 million during the quarter, compared to the consensus estimate of $85.87 million. On average, equities research analysts expect that CNB Financial Corporation will post 3.58 earnings per share for the current year.

CNB Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Monday, June 1st. CNB Financial’s payout ratio is currently 24.44%.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.