CNB Financial Co. (NASDAQ:CCNE) Expected to Post Earnings of $0.74 Per Share


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Equities analysts expect CNB Financial Co. (NASDAQ:CCNE) to report $0.74 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CNB Financial’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.78. CNB Financial reported earnings of $0.57 per share during the same quarter last year, which would indicate a positive year over year growth rate of 29.8%. The business is expected to issue its next earnings report on Monday, April 19th.

On average, analysts expect that CNB Financial will report full year earnings of $2.59 per share for the current fiscal year, with EPS estimates ranging from $2.55 to $2.63. For the next year, analysts expect that the firm will post earnings of $2.66 per share, with EPS estimates ranging from $2.65 to $2.66. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow CNB Financial.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Monday, January 25th. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. CNB Financial had a return on equity of 11.98% and a net margin of 18.79%. The firm had revenue of $48.08 million during the quarter, compared to the consensus estimate of $41.95 million.

Separately, Zacks Investment Research downgraded CNB Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 30th.

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in CNB Financial by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 621,503 shares of the bank’s stock worth $13,232,000 after acquiring an additional 11,886 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CNB Financial by 227.8% in the fourth quarter. JPMorgan Chase & Co. now owns 44,986 shares of the bank’s stock worth $958,000 after acquiring an additional 31,263 shares during the last quarter. Banc Funds Co. LLC lifted its holdings in CNB Financial by 22.1% in the fourth quarter. Banc Funds Co. LLC now owns 195,160 shares of the bank’s stock worth $4,155,000 after acquiring an additional 35,338 shares during the last quarter. Stifel Financial Corp lifted its holdings in CNB Financial by 0.4% in the fourth quarter. Stifel Financial Corp now owns 208,826 shares of the bank’s stock worth $4,446,000 after acquiring an additional 894 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in CNB Financial by 11.0% in the fourth quarter. LPL Financial LLC now owns 32,031 shares of the bank’s stock worth $682,000 after acquiring an additional 3,171 shares during the last quarter. Institutional investors and hedge funds own 39.82% of the company’s stock.

Shares of CNB Financial stock traded down $0.29 during trading hours on Friday, hitting $24.46. 27,409 shares of the company’s stock traded hands, compared to its average volume of 46,937. The stock has a 50 day simple moving average of $24.64 and a 200-day simple moving average of $21.12. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.67. The company has a market cap of $412.98 million, a PE ratio of 10.78 and a beta of 0.96. CNB Financial has a twelve month low of $13.25 and a twelve month high of $26.85.

The company also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 1st were paid a $0.17 dividend. The ex-dividend date was Friday, February 26th. This represents a $0.68 dividend on an annualized basis and a yield of 2.78%. CNB Financial’s dividend payout ratio (DPR) is 25.86%.

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.

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