Stieven Capital Advisors L.P. Buys 169,683 Shares of CNB Financial Corporation $CCNE

Stieven Capital Advisors L.P. increased its stake in CNB Financial Corporation (NASDAQ:CCNE) by 58.2% in the 3rd quarter, Holdings Channel reports. The fund owned 461,373 shares of the bank’s stock after buying an additional 169,683 shares during the quarter. CNB Financial comprises about 2.1% of Stieven Capital Advisors L.P.’s holdings, making the stock its 21st largest position. Stieven Capital Advisors L.P.’s holdings in CNB Financial were worth $11,165,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Peoples Financial Services CORP. purchased a new stake in CNB Financial during the third quarter valued at about $28,000. Founders Capital Management purchased a new position in shares of CNB Financial in the 3rd quarter worth about $31,000. Tower Research Capital LLC TRC increased its position in shares of CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock valued at $46,000 after purchasing an additional 636 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of CNB Financial by 16,173.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after buying an additional 2,426 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in CNB Financial by 35.5% in the 3rd quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock worth $63,000 after buying an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 52.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CCNE has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of CNB Financial from a “hold (c)” rating to a “buy (b)” rating in a research report on Thursday. Stephens upped their price objective on shares of CNB Financial from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $32.00.

CNB Financial Price Performance

Shares of CNB Financial stock opened at $27.13 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. CNB Financial Corporation has a one year low of $19.32 and a one year high of $30.84. The business’s 50 day simple moving average is $27.96 and its two-hundred day simple moving average is $26.37. The stock has a market capitalization of $799.79 million, a P/E ratio of 11.16 and a beta of 0.71.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. CNB Financial had a return on equity of 11.83% and a net margin of 15.29%.The firm had revenue of $87.16 million during the quarter, compared to analyst estimates of $73.10 million. Analysts forecast that CNB Financial Corporation will post 2.04 EPS for the current year.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, February 27th. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s dividend payout ratio is currently 31.28%.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.