Analysts Expect CNB Financial Co. (NASDAQ:CCNE) to Post $0.80 EPS

Wall Street brokerages forecast that CNB Financial Co. (NASDAQ:CCNEGet Rating) will report earnings of $0.80 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for CNB Financial’s earnings, with estimates ranging from $0.77 to $0.82. CNB Financial reported earnings of $0.76 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that CNB Financial will report full year earnings of $3.31 per share for the current financial year, with EPS estimates ranging from $3.26 to $3.35. For the next year, analysts forecast that the business will report earnings of $3.63 per share, with EPS estimates ranging from $3.60 to $3.65. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover CNB Financial.

CNB Financial (NASDAQ:CCNEGet Rating) last released its quarterly earnings results on Monday, April 18th. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. CNB Financial had a return on equity of 15.62% and a net margin of 27.16%.

Several research analysts have issued reports on the company. Zacks Investment Research upgraded CNB Financial from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Wednesday, April 20th. StockNews.com downgraded shares of CNB Financial from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

In other CNB Financial news, COO Michael D. Peduzzi acquired 2,500 shares of CNB Financial stock in a transaction that occurred on Thursday, March 3rd. The stock was bought at an average price of $26.41 per share, with a total value of $66,025.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joel E. Peterson acquired 4,507 shares of CNB Financial stock in a transaction that occurred on Monday, March 7th. The stock was acquired at an average cost of $25.79 per share, with a total value of $116,235.53. The disclosure for this purchase can be found here. Insiders have bought 10,055 shares of company stock valued at $263,111 in the last ninety days. Insiders own 3.09% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in CNB Financial by 19.4% in the fourth quarter. BlackRock Inc. now owns 1,115,215 shares of the bank’s stock worth $29,553,000 after purchasing an additional 181,422 shares during the last quarter. Pekin Hardy Strauss Inc. purchased a new stake in shares of CNB Financial during the third quarter valued at $2,239,000. Banc Funds Co. LLC grew its holdings in shares of CNB Financial by 23.3% during the first quarter. Banc Funds Co. LLC now owns 294,957 shares of the bank’s stock valued at $7,763,000 after buying an additional 55,797 shares during the last quarter. Maltese Capital Management LLC grew its holdings in shares of CNB Financial by 23.1% during the fourth quarter. Maltese Capital Management LLC now owns 160,000 shares of the bank’s stock valued at $4,240,000 after buying an additional 30,000 shares during the last quarter. Finally, Gator Capital Management LLC purchased a new stake in shares of CNB Financial during the fourth quarter valued at $697,000. 42.24% of the stock is owned by institutional investors.

Shares of NASDAQ:CCNE opened at $23.97 on Thursday. CNB Financial has a 1 year low of $22.08 and a 1 year high of $28.59. The business has a 50 day simple moving average of $25.75 and a two-hundred day simple moving average of $26.51. The firm has a market capitalization of $404.13 million, a PE ratio of 7.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.88 and a quick ratio of 0.88.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Tuesday, May 31st. CNB Financial’s dividend payout ratio is presently 21.74%.

About CNB Financial (Get Rating)

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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