CNB Financial (NASDAQ:CCNE) EVP Sells $296,048.20 in Stock

CNB Financial Corporation (NASDAQ:CCNE) EVP Leanne Kassab sold 8,330 shares of the business’s stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $35.54, for a total transaction of $296,048.20. Following the completion of the sale, the executive vice president owned 14,026 shares in the company, valued at $498,484.04. This represents a 37.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CNB Financial Price Performance

NASDAQ CCNE traded down $0.09 during trading hours on Friday, reaching $35.55. The company’s stock had a trading volume of 48,619 shares, compared to its average volume of 153,834. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The company’s 50-day moving average is $34.58 and its two-hundred day moving average is $32.09. CNB Financial Corporation has a fifty-two week low of $23.78 and a fifty-two week high of $37.70. The stock has a market cap of $1.05 billion, a PE ratio of 9.36 and a beta of 0.61.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Wednesday, October 21st. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. CNB Financial had a net margin of 23.26% and a return on equity of 13.15%. The company had revenue of $87.79 million during the quarter, compared to analysts’ expectations of $87.76 million. Analysts forecast that CNB Financial Corporation will post 3.58 EPS for the current year.

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 1st. CNB Financial’s payout ratio is currently 20.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Weiss Ratings cut CNB Financial from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, October 26th. Wall Street Zen cut CNB Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $37.00 price objective (up from $35.00) on shares of CNB Financial in a research report on Friday, July 24th. DA Davidson increased their price objective on CNB Financial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $40.00 price objective on shares of CNB Financial in a research report on Tuesday, October 27th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of CNB Financial during the second quarter worth $78,011,000. The Manufacturers Life Insurance Company purchased a new position in CNB Financial during the second quarter worth about $7,667,000. Globeflex Capital L P purchased a new position in CNB Financial during the second quarter worth about $5,396,000. Empowered Funds LLC acquired a new stake in CNB Financial in the 2nd quarter worth about $4,918,000. Finally, Pinnacle Holdings LLC acquired a new stake in CNB Financial in the 2nd quarter worth about $1,690,000. 52.35% of the stock is currently owned by institutional investors and hedge funds.

CNB Financial Company Profile

CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.