Stieven Capital Advisors L.P. Sells 2,200 Shares of CNB Financial Co. (NASDAQ:CCNE)

Stieven Capital Advisors L.P. cut its stake in shares of CNB Financial Co. (NASDAQ:CCNE) by 1.0% in the third quarter, Holdings Channel reports. The fund owned 217,478 shares of the bank’s stock after selling 2,200 shares during the period. Stieven Capital Advisors L.P.’s holdings in CNB Financial were worth $5,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new position in shares of CNB Financial during the first quarter valued at $81,000. SG Americas Securities LLC bought a new position in shares of CNB Financial during the third quarter valued at $181,000. Beese Fulmer Investment Management Inc. bought a new position in shares of CNB Financial during the third quarter valued at $226,000. AQR Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 568 shares during the period. Finally, Creative Planning lifted its holdings in shares of 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 acquiring an additional 8,327 shares during the period. 52.35% of the stock is owned by institutional investors.

CNB Financial Stock Performance

Shares of NASDAQ:CCNE opened at $27.63 on Friday. CNB Financial Co. has a twelve month low of $17.74 and a twelve month high of $29.29. The firm has a market cap of $579.95 million, a PE ratio of 11.81 and a beta of 0.68. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The business has a fifty day moving average of $24.91 and a 200-day moving average of $22.63.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm 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 10.13% and a net margin of 14.90%. On average, equities research analysts predict that CNB Financial Co. will post 2.3 EPS for the current fiscal year.

CNB Financial Dividend Announcement

The company also recently disclosed 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 is Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.61%. CNB Financial’s payout ratio is 30.77%.

Analyst Upgrades and Downgrades

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

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.