CNB Financial Corp (NASDAQ:CCNE) – Analysts at Boenning Scattergood cut their FY2017 earnings estimates for CNB Financial in a research report issued on Wednesday. Boenning Scattergood analyst M. Schultheis now anticipates that the bank will post earnings of $1.54 per share for the year, down from their prior estimate of $1.67. Boenning Scattergood currently has a “Buy” rating on the stock.
CNB Financial (NASDAQ:CCNE) last announced its earnings results on Thursday, October 19th. The bank reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.08. The company had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $28.52 million. CNB Financial had a return on equity of 10.94% and a net margin of 20.28%.
A number of other research analysts have also weighed in on CCNE. Zacks Investment Research upgraded CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Thursday. BidaskClub lowered CNB Financial from a “hold” rating to a “sell” rating in a research report on Saturday, December 16th. Finally, ValuEngine lowered CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th.
Shares of CNB Financial (CCNE) opened at $27.07 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $426.57, a PE ratio of 16.02 and a beta of 0.84. CNB Financial has a twelve month low of $20.91 and a twelve month high of $29.76.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC boosted its position in shares of CNB Financial by 38.7% during the second quarter. Brandywine Global Investment Management LLC now owns 4,952 shares of the bank’s stock valued at $119,000 after buying an additional 1,382 shares during the period. SG Americas Securities LLC purchased a new position in shares of CNB Financial during the third quarter valued at approximately $208,000. State Board of Administration of Florida Retirement System purchased a new position in shares of CNB Financial during the third quarter valued at approximately $215,000. Wells Fargo & Company MN boosted its position in shares of CNB Financial by 2.0% during the second quarter. Wells Fargo & Company MN now owns 11,175 shares of the bank’s stock valued at $268,000 after buying an additional 217 shares during the period. Finally, Voya Investment Management LLC raised its stake in shares of CNB Financial by 8.6% during the second quarter. Voya Investment Management LLC now owns 12,661 shares of the bank’s stock valued at $303,000 after acquiring an additional 1,001 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were given a $0.165 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.66 annualized dividend and a yield of 2.44%. CNB Financial’s dividend payout ratio is currently 39.05%.
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CNB Financial Company Profile
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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