Meeder Asset Management Inc. Makes New $53,000 Investment in CNB Financial Co. (NASDAQ:CCNE)

Meeder Asset Management Inc. bought a new position in shares of CNB Financial Co. (NASDAQ:CCNE) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,327 shares of the bank’s stock, valued at approximately $53,000.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in CNB Financial by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 621,503 shares of the bank’s stock valued at $13,232,000 after buying an additional 11,886 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in CNB Financial by 71.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,216 shares of the bank’s stock valued at $178,000 after buying an additional 2,995 shares in the last quarter. BlackRock Inc. grew its stake in CNB Financial by 8.1% in the 1st quarter. BlackRock Inc. now owns 1,011,395 shares of the bank’s stock valued at $24,892,000 after buying an additional 75,907 shares in the last quarter. Royce & Associates LP grew its stake in CNB Financial by 4.2% in the 1st quarter. Royce & Associates LP now owns 179,360 shares of the bank’s stock valued at $4,414,000 after buying an additional 7,215 shares in the last quarter. Finally, UBS Group AG grew its stake in CNB Financial by 49.6% in the 1st quarter. UBS Group AG now owns 3,511 shares of the bank’s stock valued at $86,000 after buying an additional 1,164 shares in the last quarter. 39.36% of the stock is currently owned by hedge funds and other institutional investors.

CCNE opened at $24.02 on Wednesday. The company has a fifty day moving average price of $24.05 and a 200-day moving average price of $24.32. The firm has a market capitalization of $405.58 million, a P/E ratio of 9.97 and a beta of 1.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.93 and a quick ratio of 0.93. CNB Financial Co. has a one year low of $13.95 and a one year high of $26.85.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Monday, July 19th. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.02. CNB Financial had a net margin of 21.12% and a return on equity of 14.78%. On average, analysts expect that CNB Financial Co. will post 3.03 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Tuesday, August 31st. CNB Financial’s dividend payout ratio is currently 26.15%.

A number of research analysts recently weighed in on CCNE shares. Zacks Investment Research lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th. Boenning Scattergood restated an “outperform” rating on shares of CNB Financial in a research report on Friday, August 20th.

In related news, COO Michael D. Peduzzi acquired 5,000 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was bought at an average cost of $24.18 per share, with a total value of $120,900.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.77% of the company’s stock.

About CNB Financial

CNB Financial Corp. is a financial holding company, which engages in the provision of banking and financial solutions. It offers deposit accounts, private banking, real estate, commercial, industrial, residential and consumer loans, lines of credit, credit cards, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.

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Institutional Ownership by Quarter for CNB Financial (NASDAQ:CCNE)

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