Brokerages Expect CNB Financial Co. (NASDAQ:CCNE) to Post $0.77 EPS

Equities research analysts expect CNB Financial Co. (NASDAQ:CCNE) to announce earnings of $0.77 per share for the current quarter, according to Zacks. Two analysts have issued estimates for CNB Financial’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.77. CNB Financial posted earnings per share of $0.70 in the same quarter last year, which suggests a positive year over year growth rate of 10%. The company is scheduled to report its next earnings report on Tuesday, October 19th.

According to Zacks, analysts expect that CNB Financial will report full year earnings of $3.03 per share for the current year, with EPS estimates ranging from $3.02 to $3.03. For the next financial year, analysts expect that the company will report earnings of $3.10 per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow CNB Financial.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Monday, July 19th. The bank reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.02. The company had revenue of $46.16 million for the quarter, compared to the consensus estimate of $46.95 million. CNB Financial had a net margin of 21.12% and a return on equity of 14.78%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th. Boenning Scattergood reissued an “outperform” rating on shares of CNB Financial in a research note on Friday, August 20th.

In related news, COO Michael D. Peduzzi purchased 5,000 shares of CNB Financial stock in a transaction that occurred on Friday, September 10th. The shares were bought at an average price of $24.18 per share, with a total value of $120,900.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.77% of the company’s stock.

A number of institutional investors have recently modified their holdings of CCNE. Lazard Asset Management LLC bought a new position in CNB Financial during the 1st quarter worth about $42,000. Meeder Asset Management Inc. bought a new stake in shares of CNB Financial in the 2nd quarter valued at about $53,000. Alpha Paradigm Partners LLC bought a new stake in shares of CNB Financial in the 2nd quarter valued at about $65,000. UBS Group AG boosted its holdings in shares of CNB Financial by 49.6% in the 1st quarter. UBS Group AG now owns 3,511 shares of the bank’s stock valued at $86,000 after buying an additional 1,164 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its holdings in shares of CNB Financial by 97,220.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 4,866 shares of the bank’s stock valued at $111,000 after buying an additional 4,861 shares in the last quarter. Institutional investors own 39.36% of the company’s stock.

CNB Financial stock traded down $0.83 during mid-day trading on Monday, reaching $23.06. 25 shares of the company’s stock traded hands, compared to its average volume of 40,701. The company has a market cap of $389.37 million, a price-to-earnings ratio of 9.55 and a beta of 1.05. The stock has a 50 day moving average of $24.13 and a two-hundred day moving average of $24.32. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.41. CNB Financial has a 12-month low of $13.95 and a 12-month high of $26.85.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Investors of record on Wednesday, September 1st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.95%. The ex-dividend date was Tuesday, August 31st. CNB Financial’s dividend payout ratio is presently 26.15%.

CNB Financial Company Profile

CNB Financial Corp. is a financial holding company, which engages in the provision of banking and financial solutions. It offers deposit accounts, private banking, real estate, commercial, industrial, residential and consumer loans, lines of credit, credit cards, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.

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