CNB Financial Co. (NASDAQ:CCNE) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its stake in CNB Financial Co. (NASDAQ:CCNE) by 105.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,715 shares of the bank’s stock after purchasing an additional 9,086 shares during the quarter. Deutsche Bank AG’s holdings in CNB Financial were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCNE. Tower Research Capital LLC TRC increased its holdings in shares of CNB Financial by 618.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,807 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of CNB Financial in the fourth quarter valued at approximately $196,000. Intech Investment Management LLC acquired a new stake in shares of CNB Financial in the fourth quarter valued at approximately $203,000. Dynamic Technology Lab Private Ltd acquired a new stake in CNB Financial during the fourth quarter worth $211,000. Finally, SG Americas Securities LLC increased its stake in CNB Financial by 17.4% during the fourth quarter. SG Americas Securities LLC now owns 8,808 shares of the bank’s stock worth $219,000 after acquiring an additional 1,305 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

CNB Financial Price Performance

CCNE stock opened at $22.12 on Friday. The business has a fifty day moving average of $21.95 and a two-hundred day moving average of $24.26. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The stock has a market cap of $464.06 million, a price-to-earnings ratio of 9.29 and a beta of 0.64. CNB Financial Co. has a 52-week low of $18.60 and a 52-week high of $29.29.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Monday, April 14th. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. The company had revenue of $57.55 million for the quarter, compared to analysts’ expectations of $54.05 million. As a group, research analysts anticipate that CNB Financial Co. will post 2.04 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.25%. CNB Financial’s payout ratio is presently 30.90%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCNE. Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods cut their target price on CNB Financial from $27.00 to $25.00 and set a “market perform” rating for the company in a research note on Wednesday, April 16th. Finally, Stephens began coverage on CNB Financial in a research note on Monday, April 14th. They set an “overweight” rating and a $26.50 target price for the company.

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.