Emerald Advisers LLC Sells 47,850 Shares of CNB Financial Co. (NASDAQ:CCNE)

Emerald Advisers LLC reduced its position in CNB Financial Co. (NASDAQ:CCNE) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,119 shares of the bank’s stock after selling 47,850 shares during the quarter. Emerald Advisers LLC owned about 0.27% of CNB Financial worth $1,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCNE. Intech Investment Management LLC bought a new stake in shares of CNB Financial during the 4th quarter valued at approximately $203,000. SG Americas Securities LLC grew its holdings in shares of CNB Financial by 17.4% during the 4th quarter. SG Americas Securities LLC now owns 8,808 shares of the bank’s stock valued at $219,000 after purchasing an additional 1,305 shares during the last quarter. PDT Partners LLC bought a new stake in shares of CNB Financial during the 3rd quarter valued at approximately $221,000. Summit Global Investments acquired a new stake in CNB Financial during the 4th quarter worth approximately $247,000. Finally, Los Angeles Capital Management LLC acquired a new stake in CNB Financial during the 4th quarter worth approximately $285,000. 52.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on CCNE shares. Keefe, Bruyette & Woods cut their target price on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Friday, February 14th.

CNB Financial Stock Down 2.0 %

NASDAQ:CCNE opened at $22.16 on Monday. The company has a market cap of $464.92 million, a PE ratio of 9.31 and a beta of 0.65. CNB Financial Co. has a one year low of $17.74 and a one year high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The firm’s 50 day simple moving average is $24.60 and its 200 day simple moving average is $25.19.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. On average, research analysts anticipate that CNB Financial Co. will post 2.04 earnings per share for the current year.

CNB Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.18 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.25%. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

CNB Financial Company Profile

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.