CNB Financial Co. (NASDAQ:CCNE) Short Interest Update

CNB Financial Co. (NASDAQ:CCNE) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 74,500 shares, an increase of 24.8% from the October 15th total of 59,700 shares. Based on an average trading volume of 45,700 shares, the days-to-cover ratio is currently 1.6 days.

CNB Financial Price Performance

Shares of CCNE traded down $0.31 on Friday, hitting $27.63. The company’s stock had a trading volume of 47,224 shares, compared to its average volume of 59,530. The company has a market capitalization of $579.95 million, a PE ratio of 11.81 and a beta of 0.68. CNB Financial has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a 50 day moving average price of $24.91 and a 200 day moving average price of $22.63. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Monday, October 21st. The bank reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. The company had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. On average, research analysts anticipate that CNB Financial will post 2.3 earnings per share for the current fiscal year.

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, November 29th. CNB Financial’s payout ratio is presently 30.77%.

Hedge Funds Weigh In On CNB Financial

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of CNB Financial in the first quarter valued at approximately $81,000. SG Americas Securities LLC acquired a new stake in shares of CNB Financial in the 3rd quarter valued at $181,000. PDT Partners LLC bought a new stake in shares of CNB Financial during the third quarter worth $221,000. Beese Fulmer Investment Management Inc. acquired a new position in shares of CNB Financial during the third quarter valued at $226,000. Finally, AQR Capital Management LLC boosted its holdings in CNB Financial by 5.7% in 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 last quarter. 52.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

CNB Financial Company 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.