$0.64 Earnings Per Share Expected for CNB Financial Corp (NASDAQ:CCNE) This Quarter

Equities analysts expect CNB Financial Corp (NASDAQ:CCNE) to report earnings per share (EPS) of $0.64 for the current quarter, according to Zacks. Two analysts have provided estimates for CNB Financial’s earnings. CNB Financial posted earnings of $0.62 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The business is expected to report its next earnings report on Monday, April 20th.

According to Zacks, analysts expect that CNB Financial will report full-year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.46. For the next fiscal year, analysts expect that the business will report earnings of $2.91 per share, with EPS estimates ranging from $2.90 to $2.92. Zacks’ EPS calculations are an average based on a survey of research firms that follow CNB Financial.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.69 EPS for the quarter, hitting analysts’ consensus estimates of $0.69. CNB Financial had a return on equity of 14.00% and a net margin of 22.06%. The firm had revenue of $36.50 million for the quarter, compared to the consensus estimate of $37.09 million.

CCNE has been the topic of several analyst reports. Zacks Investment Research downgraded CNB Financial from a “hold” rating to a “strong sell” rating in a report on Friday, January 17th. BidaskClub downgraded CNB Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, January 25th. Finally, Janney Montgomery Scott initiated coverage on CNB Financial in a report on Tuesday, January 7th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.50.

CCNE stock traded down $0.43 during midday trading on Friday, hitting $29.12. 5,832 shares of the company traded hands, compared to its average volume of 22,423. CNB Financial has a twelve month low of $23.40 and a twelve month high of $33.78. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.07. The business has a 50 day simple moving average of $30.95 and a 200-day simple moving average of $29.99. The stock has a market capitalization of $444.02 million, a price-to-earnings ratio of 11.07 and a beta of 0.96.

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.17 per share. The ex-dividend date is Thursday, February 27th. This represents a $0.68 annualized dividend and a yield of 2.34%. CNB Financial’s dividend payout ratio (DPR) is presently 25.86%.

Hedge funds have recently made changes to their positions in the business. Great West Life Assurance Co. Can acquired a new position in CNB Financial during the fourth quarter valued at approximately $32,000. New York State Teachers Retirement System acquired a new position in CNB Financial during the fourth quarter valued at approximately $42,000. Bank of Montreal Can grew its holdings in CNB Financial by 44.5% during the fourth quarter. Bank of Montreal Can now owns 1,838 shares of the bank’s stock valued at $60,000 after purchasing an additional 566 shares during the last quarter. Denali Advisors LLC grew its holdings in CNB Financial by 13,803.3% during the fourth quarter. Denali Advisors LLC now owns 4,171 shares of the bank’s stock valued at $136,000 after purchasing an additional 4,141 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in CNB Financial by 64.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,524 shares of the bank’s stock valued at $148,000 after purchasing an additional 1,780 shares during the last quarter. Institutional investors own 44.34% of the company’s stock.

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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