Analysts Expect CNB Financial Corp (CCNE) to Announce $0.48 EPS

Shares of CNB Financial Corp (NASDAQ:CCNE) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus price objective of $29.50 for the company and are predicting that the company will post $0.48 earnings per share for the current quarter, according to Zacks. Zacks has also assigned CNB Financial an industry rank of 168 out of 265 based on the ratings given to its competitors.

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CCNE has been the topic of several analyst reports. BidaskClub raised shares of CNB Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised shares of CNB Financial from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Boenning Scattergood reaffirmed a “buy” rating on shares of CNB Financial in a research note on Thursday, February 22nd.

In related news, Director Francis X. Straub III bought 1,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was bought at an average price of $26.91 per share, with a total value of $26,910.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joel E. Peterson sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 20th. The stock was sold at an average price of $30.21, for a total transaction of $60,420.00. Following the completion of the sale, the director now directly owns 7,751 shares of the company’s stock, valued at approximately $234,157.71. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CNB Bank bought a new stake in shares of CNB Financial in the 4th quarter worth about $4,420,000. MetLife Investment Advisors LLC bought a new stake in shares of CNB Financial in the 4th quarter worth about $178,000. Macquarie Group Ltd. bought a new stake in shares of CNB Financial in the 4th quarter worth about $129,000. Deutsche Bank AG increased its position in shares of CNB Financial by 78.0% in the 4th quarter. Deutsche Bank AG now owns 44,013 shares of the bank’s stock worth $1,152,000 after purchasing an additional 19,287 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of CNB Financial by 2.2% during the 4th quarter. Renaissance Technologies LLC now owns 220,300 shares of the bank’s stock valued at $5,781,000 after buying an additional 4,800 shares during the last quarter. 42.84% of the stock is owned by institutional investors.

CNB Financial stock traded down $1.10 during trading on Friday, reaching $28.37. 26,542 shares of the company traded hands, compared to its average volume of 24,592. CNB Financial has a 12-month low of $20.91 and a 12-month high of $31.46. The stock has a market cap of $433.61, a P/E ratio of 18.07 and a beta of 0.80. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.98 and a quick ratio of 0.98.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Friday, February 2nd. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. CNB Financial had a net margin of 18.31% and a return on equity of 11.16%. The firm had revenue of $29.34 million for the quarter, compared to the consensus estimate of $29.26 million. sell-side analysts predict that CNB Financial will post 2.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend was Wednesday, February 28th. CNB Financial’s payout ratio is currently 42.04%.

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About CNB Financial

CNB Financial Corporation 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.

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