Stieven Capital Advisors L.P. Has $5.23 Million Position in CNB Financial Co. (NASDAQ:CCNE)

Stieven Capital Advisors L.P. lowered its position in CNB Financial Co. (NASDAQ:CCNE) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 217,478 shares of the bank’s stock after selling 2,200 shares during the period. Stieven Capital Advisors L.P. owned 1.04% of CNB Financial worth $5,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in CNB Financial during the first quarter valued at approximately $81,000. SG Americas Securities LLC acquired a new position in CNB Financial during the third quarter valued at approximately $181,000. Beese Fulmer Investment Management Inc. acquired a new position in CNB Financial during the third quarter valued at approximately $226,000. AQR Capital Management LLC grew its holdings in CNB Financial by 5.7% during the second quarter. AQR Capital Management LLC now owns 10,543 shares of the bank’s stock valued at $215,000 after purchasing an additional 568 shares during the last quarter. Finally, Creative Planning grew its holdings in CNB Financial by 82.3% during the third quarter. Creative Planning now owns 18,440 shares of the bank’s stock valued at $444,000 after purchasing an additional 8,327 shares during the last quarter. Institutional investors and hedge funds own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

CNB Financial Stock Down 1.1 %

CCNE opened at $27.63 on Friday. CNB Financial Co. has a 1-year low of $17.74 and a 1-year high of $29.29. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $579.95 million, a price-to-earnings ratio of 11.81 and a beta of 0.68. The business has a 50 day moving average of $24.91 and a 200-day moving average of $22.63.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The company had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $55.40 million. As a group, sell-side analysts anticipate that CNB Financial Co. will post 2.3 earnings per share for the current year.

CNB Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 2.61%. CNB Financial’s dividend payout ratio (DPR) is currently 30.77%.

CNB Financial 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.