CNB Financial (NASDAQ:CCNE) Stock Price Down 4% – Should You Sell?

Shares of CNB Financial Co. (NASDAQ:CCNE) traded down 4% during mid-day trading on Thursday . The stock traded as low as $24.46 and last traded at $24.46. 1,284 shares were traded during trading, a decline of 97% from the average session volume of 45,058 shares. The stock had previously closed at $25.47.

Analyst Ratings Changes

Separately, StockNews.com upgraded CNB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday.

CNB Financial Trading Down 0.9 %

The firm has a market cap of $530.35 million, a P/E ratio of 10.70 and a beta of 0.69. The business’s 50-day moving average is $23.86 and its two-hundred day moving average is $21.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $94.21 million during the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.37% and a net margin of 15.30%. As a group, analysts expect that CNB Financial Co. will post 2.25 earnings per share for the current fiscal year.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.85%. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is presently 30.25%.

Institutional Trading of CNB Financial

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in CNB Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 1,052,624 shares of the bank’s stock worth $21,463,000 after purchasing an additional 15,870 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CNB Financial by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,685 shares of the bank’s stock worth $19,280,000 after buying an additional 24,666 shares in the last quarter. American Century Companies Inc. grew its holdings in CNB Financial by 16.7% in the 2nd quarter. American Century Companies Inc. now owns 357,127 shares of the bank’s stock worth $7,289,000 after buying an additional 51,080 shares in the last quarter. Bank of New York Mellon Corp increased its position in CNB Financial by 3.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 132,168 shares of the bank’s stock valued at $2,698,000 after acquiring an additional 4,973 shares during the period. Finally, Empowered Funds LLC raised its stake in CNB Financial by 8.1% during the 1st quarter. Empowered Funds LLC now owns 60,792 shares of the bank’s stock valued at $1,240,000 after acquiring an additional 4,550 shares in the last quarter. 52.35% of the stock is currently owned by institutional investors.

About CNB Financial

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.