Equities research analysts expect that CNB Financial Corp (NASDAQ:CCNE) will announce sales of $36.39 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for CNB Financial’s earnings, with estimates ranging from $35.67 million to $37.10 million. CNB Financial reported sales of $33.91 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.3%. The firm is expected to issue its next quarterly earnings results on Monday, April 20th.
On average, analysts expect that CNB Financial will report full year sales of $160.69 million for the current fiscal year, with estimates ranging from $159.88 million to $161.50 million. For the next fiscal year, analysts expect that the business will post sales of $183.61 million, with estimates ranging from $183.20 million to $184.02 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for CNB Financial.
CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. CNB Financial had a return on equity of 14.00% and a net margin of 22.06%. The business had revenue of $36.50 million during the quarter, compared to the consensus estimate of $37.09 million.
A number of equities analysts have issued reports on the company. Zacks Investment Research cut CNB Financial from a “hold” rating to a “strong sell” rating in a report on Friday, January 17th. Janney Montgomery Scott assumed coverage on CNB Financial in a report on Tuesday, January 7th. They issued a “buy” rating for the company. Finally, BidaskClub cut CNB Financial from a “sell” rating to a “strong sell” rating in a report on Saturday, January 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. CNB Financial currently has a consensus rating of “Hold” and an average price target of $33.50.
A number of institutional investors and hedge funds have recently modified their holdings of CCNE. California Public Employees Retirement System increased its stake in shares of CNB Financial by 43.6% in the third quarter. California Public Employees Retirement System now owns 43,156 shares of the bank’s stock valued at $1,239,000 after buying an additional 13,093 shares during the period. State Street Corp boosted its stake in CNB Financial by 0.9% during the third quarter. State Street Corp now owns 267,209 shares of the bank’s stock valued at $7,669,000 after buying an additional 2,443 shares during the period. Wedge Capital Management L L P NC lifted its stake in CNB Financial by 94.8% during the third quarter. Wedge Capital Management L L P NC now owns 26,210 shares of the bank’s stock worth $752,000 after purchasing an additional 12,753 shares during the last quarter. Zebra Capital Management LLC bought a new stake in CNB Financial during the third quarter worth about $208,000. Finally, First Trust Advisors LP lifted its stake in CNB Financial by 24.9% during the third quarter. First Trust Advisors LP now owns 32,409 shares of the bank’s stock worth $930,000 after purchasing an additional 6,471 shares during the last quarter. 44.34% of the stock is owned by institutional investors and hedge funds.
Shares of CCNE stock traded down $0.43 on Friday, hitting $29.12. 5,832 shares of the company’s stock were exchanged, compared to its average volume of 22,423. CNB Financial has a 12 month low of $23.40 and a 12 month high of $33.78. The company has a 50 day moving average of $30.95 and a 200 day moving average of $29.99. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $444.02 million, a P/E ratio of 11.07 and a beta of 0.96.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. CNB Financial’s payout ratio is presently 25.86%.
About CNB Financial
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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