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

Analysts forecast that CNB Financial Corp (NASDAQ:CCNE) will announce earnings per share (EPS) of $0.64 for the current quarter, according to Zacks. Two analysts have issued estimates for CNB Financial’s earnings. CNB Financial reported earnings of $0.62 per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The business is expected to announce its next quarterly earnings results 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 financial year, analysts expect that the company will report earnings of $2.91 per share, with EPS estimates ranging from $2.90 to $2.92. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for CNB Financial.

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

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

Institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of CNB Financial by 1.4% during the second quarter. BlackRock Inc. now owns 770,225 shares of the bank’s stock worth $21,752,000 after purchasing an additional 10,629 shares in the last quarter. Rhumbline Advisers grew its stake in CNB Financial by 9.0% during the 3rd quarter. Rhumbline Advisers now owns 22,663 shares of the bank’s stock valued at $650,000 after acquiring an additional 1,877 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in CNB Financial during the 3rd quarter valued at about $246,000. California Public Employees Retirement System grew its stake in CNB Financial by 43.6% during the 3rd quarter. California Public Employees Retirement System now owns 43,156 shares of the bank’s stock valued at $1,239,000 after acquiring an additional 13,093 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its stake in CNB Financial by 94.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 26,210 shares of the bank’s stock valued at $752,000 after acquiring an additional 12,753 shares in the last quarter. 44.34% of the stock is currently owned by institutional investors.

Shares of CCNE stock traded down $0.43 during trading hours on Friday, hitting $29.12. The company had a trading volume of 5,832 shares, compared to its average volume of 22,423. The company’s fifty day moving average is $30.95 and its 200 day moving average is $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. CNB Financial has a fifty-two week low of $23.40 and a fifty-two week high of $33.78. The stock has a market capitalization of $444.02 million, a PE ratio of 11.07 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, February 27th. CNB Financial’s payout ratio is currently 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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