Shares are trading at $24.59 which is a tad above the 50 day moving average of $22.62 and which is slightly above the 200 day moving average of $24.36. The 50 day moving average went up $1.97 or +8.69% and the 200 day average was up $0.23. CNB Financial Corporation shares had a trading volume of 15K by the end of trading on Thursday. Trading volume was down 49.81% under the stocks average daily volume.
Investors are feeling more bullish on shares of the company if you watch the decrease in short interest. The stock realized a fall in short interest between June 15, 2017 and May 31, 2017 of -20.76%. Short shares decreased 45,324 over that period. The short-interest ratio decreased to 5.1 and the percentage of shorted shares is 0.01% as of May 31.
CNB Financial Corporation (NASDAQ:CCNE) has been the object of insider buying and selling activity recently. Nicholas N. Jr. Scott, Director disclosed the purchase of 54 shares. The shares were bought on March 9th for an average price of $24.72. The Director now owns $200,166 of the stock according to the SEC filing. Nicholas N. Jr. Scott, Director let go of $12,325 worth of shares at an average price of $24.65 on Fri the 3rd. That brings the Director’s holdings to $198,259 per an SEC filing yesterday.
Francis X. Iii Straub, Director disclosed the purchase of 1,000 shares of CCNE stock. The shares were purchased at an average price of $24.62. Straub now owns $66,474 of the stock per the Form 4 SEC filing.
These funds have also shifted positions in (CCNE). Tower Research Capital LLC (trc) grew its investment by buying 483 shares an increase of 183.7% as of 03/31/2017. Tower Research Capital LLC (trc) claims 746 shares worth $18,000. The value of the position overall is up by 157.1%. As of quarter end Banc Funds Co LLC had acquired a total of 300,892 shares growing its position 122.7%. The value of the company’s investment in CNB Financial Corporation went from $6,557,000 to $13,046,000 a change of 99.0% quarter to quarter.
As of the end of the quarter State Street Corp had sold 10,579 shares trimming its stake by 4.1%. The value of the investment in CCNE decreased from $6,853,000 to $5,870,000 decreasing 14.3% since the last quarter. As of the end of the quarter Maltese Capital Management LLC had sold a total of 51,700 shares trimming its holdings by 18.0%. The value of the investment in CNB Financial Corporation decreased from $7,701,000 to $5,645,000 a change of $2,056,000 for the reporting period.
On February 3 the company was set at “Outperform” according to a Boeinning & Scattergood report which was a boost from the previous “Neutral” rating.
The company is so far trading up by 0.86% since yesterday’s close of $24.38. The company also recently declared a dividend for shareholders that was paid on Thu Jun 15, 2017. The dividend payment was $0.165 per share for the quarter which comes to $0.66 on an annualized basis. The dividend yield was $2.69. The ex-dividend date was set for Tuesday the 30th of May 2017.
The P/E ratio is 16.37 and market capitalization is 373.69M. As of the last earnings report the EPS was $1.50 and is expected to be $1.50 for the current year with 15,197,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.39 and the next full year EPS is projected to be $1.85.
CNB Financial Corporation, launched on September 12, 1983, is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment. The Bank is chartered in the Commonwealth of Pennsylvania. As of December 31, 2016, the Bank had 42 full service branch offices and one loan production office located in various communities in its market area. The Bank’s primary market area includes the Pennsylvania counties of Blair, Cambria, Cameron, Centre, Clearfield, Crawford, Elk, Indiana, Jefferson, and McKean. The Bank is a full service bank engaging in a range of banking activities and services for individual, business, governmental and institutional customers. The Bank’s Wealth & Asset Management Services division offers a range of client services..