CNB Financial Co. (NASDAQ:CCNE) Short Interest Up 22.3% in July

CNB Financial Co. (NASDAQ:CCNE) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 105,300 shares, an increase of 22.3% from the June 30th total of 86,100 shares. Based on an average daily volume of 43,400 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On CNB Financial

Large investors have recently added to or reduced their stakes in the stock. BHZ Capital Management LP raised its holdings in shares of CNB Financial by 1.4% during the fourth quarter. BHZ Capital Management LP now owns 57,904 shares of the bank’s stock valued at $1,308,000 after buying an additional 791 shares during the last quarter. New York State Common Retirement Fund raised its stake in CNB Financial by 14.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,878 shares of the bank’s stock valued at $178,000 after acquiring an additional 1,006 shares in the last quarter. SG Americas Securities LLC boosted its position in CNB Financial by 26.5% during the 4th quarter. SG Americas Securities LLC now owns 11,175 shares of the bank’s stock worth $252,000 after acquiring an additional 2,343 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of CNB Financial by 41.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the bank’s stock worth $200,000 after purchasing an additional 2,599 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of CNB Financial by 21.0% in the fourth quarter. BNP Paribas Financial Markets now owns 17,043 shares of the bank’s stock worth $385,000 after purchasing an additional 2,957 shares in the last quarter. 52.35% of the stock is owned by institutional investors and hedge funds.

CNB Financial Stock Up 0.5 %

Shares of CCNE stock traded up $0.13 during trading hours on Tuesday, hitting $25.67. 31,514 shares of the company were exchanged, compared to its average volume of 47,195. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $539.07 million, a price-to-earnings ratio of 10.79 and a beta of 0.71. CNB Financial has a one year low of $17.45 and a one year high of $26.87. The business’s 50-day simple moving average is $20.77 and its two-hundred day simple moving average is $20.36.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Thursday, July 18th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. CNB Financial had a return on equity of 10.47% and a net margin of 15.30%. The firm had revenue of $89.52 million for the quarter, compared to analysts’ expectations of $55.30 million. Sell-side analysts predict that CNB Financial will post 2.25 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.70 dividend on an annualized basis and a yield of 2.73%. CNB Financial’s dividend payout ratio is currently 29.41%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCNE. Keefe, Bruyette & Woods decreased their price target on shares of CNB Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research report on Wednesday, April 17th. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 19th.

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.