Emerald Advisers Inc. PA cut its position in shares of CNB Financial Corporation (NASDAQ:CCNE) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 389,003 shares of the bank’s stock after selling 20,899 shares during the period. Emerald Advisers Inc. PA’s holdings in CNB Financial Corporation were worth $9,324,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new position in CNB Financial Corporation during the fourth quarter worth $210,000. State Street Corp raised its position in CNB Financial Corporation by 12.5% in the fourth quarter. State Street Corp now owns 256,213 shares of the bank’s stock worth $6,853,000 after buying an additional 28,536 shares during the period. Dimensional Fund Advisors LP raised its position in CNB Financial Corporation by 6.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 309,677 shares of the bank’s stock worth $8,282,000 after buying an additional 19,107 shares during the period. Renaissance Technologies LLC raised its position in CNB Financial Corporation by 30.6% in the fourth quarter. Renaissance Technologies LLC now owns 236,900 shares of the bank’s stock worth $6,335,000 after buying an additional 55,573 shares during the period. Finally, Emerald Mutual Fund Advisers Trust raised its position in CNB Financial Corporation by 204.4% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 153,402 shares of the bank’s stock worth $3,665,000 after buying an additional 103,000 shares during the period. 41.25% of the stock is currently owned by hedge funds and other institutional investors.
CNB Financial Corporation (CCNE) opened at 25.47 on Friday. CNB Financial Corporation has a 52-week low of $18.01 and a 52-week high of $28.43. The company has a market capitalization of $387.30 million, a price-to-earnings ratio of 15.32 and a beta of 0.82. The company’s 50 day moving average is $24.26 and its 200-day moving average is $24.08.
CNB Financial Corporation (NASDAQ:CCNE) last released its earnings results on Friday, July 21st. The bank reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.12. The firm had revenue of $28.08 million for the quarter, compared to the consensus estimate of $27.14 million. CNB Financial Corporation had a net margin of 20.21% and a return on equity of 11.17%. Equities analysts anticipate that CNB Financial Corporation will post $1.60 EPS for the current fiscal year.
Separately, Zacks Investment Research raised shares of CNB Financial Corporation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Monday, July 24th.
CNB Financial Corporation 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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