CNB Financial Co. (NASDAQ:CCNE) Short Interest Update

CNB Financial Co. (NASDAQ:CCNE) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 74,500 shares, a growth of 24.8% from the October 15th total of 59,700 shares. Based on an average daily volume of 45,700 shares, the short-interest ratio is presently 1.6 days.

Wall Street Analyst Weigh In

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

CNB Financial Stock Performance

CNB Financial stock traded down $0.31 during mid-day trading on Friday, hitting $27.63. 47,224 shares of the company’s stock traded hands, compared to its average volume of 46,718. 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 has a 50 day simple moving average of $24.91 and a two-hundred day simple moving average of $22.61. CNB Financial has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The stock has a market cap of $580.06 million, a price-to-earnings ratio of 11.81 and a beta of 0.68.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $94.21 million during the quarter, compared to the consensus estimate of $55.40 million. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%. On average, research analysts expect that CNB Financial will post 2.3 EPS for the current fiscal year.

CNB Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.18 dividend. The ex-dividend date 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 presently 30.77%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Unison Advisors LLC acquired a new stake in shares of CNB Financial in the third quarter valued at approximately $692,000. Dimensional Fund Advisors LP lifted its position in shares of CNB Financial by 2.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock valued at $19,280,000 after acquiring an additional 24,666 shares during the period. BNP Paribas Financial Markets lifted its position in shares of CNB Financial by 73.9% during the 1st quarter. BNP Paribas Financial Markets now owns 29,632 shares of the bank’s stock valued at $604,000 after acquiring an additional 12,589 shares during the period. Acadian Asset Management LLC bought a new position in shares of CNB Financial in the first quarter worth $81,000. Finally, Creative Planning raised its stake in CNB Financial by 82.3% in 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 in the last quarter. Institutional investors own 52.35% of the company’s stock.

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.