9,400 Shares in CNB Financial Co. (NASDAQ:CCNE) Bought by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. bought a new stake in CNB Financial Co. (NASDAQ:CCNE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,400 shares of the bank’s stock, valued at approximately $226,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 valued at $21,463,000 after acquiring an additional 15,870 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CNB Financial by 2.7% during the second 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 during the period. American Century Companies Inc. grew its holdings in shares of CNB Financial by 16.7% during the second 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 raised 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 buying an additional 4,973 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in CNB Financial by 8.1% in 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.

Wall Street Analyst Weigh In

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

CNB Financial Trading Up 0.0 %

Shares of NASDAQ:CCNE opened at $25.48 on Friday. The company’s 50-day moving average price is $23.91 and its two-hundred day moving average price is $21.74. CNB Financial Co. has a one year low of $17.45 and a one year high of $26.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $535.18 million, a PE ratio of 10.71 and a beta of 0.69.

CNB Financial (NASDAQ:CCNE) last released its earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. The business had revenue of $94.21 million for 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%. On average, equities analysts forecast that CNB Financial Co. will post 2.25 EPS for the current fiscal year.

CNB Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.83%. This is an increase from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 30th. CNB Financial’s payout ratio is presently 30.25%.

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.