Analysts expect CNB Financial Corp (NASDAQ:CCNE) to report sales of $36.39 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for CNB Financial’s earnings. The lowest sales estimate is $35.67 million and the highest is $37.10 million. CNB Financial reported sales of $33.91 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The business is expected to announce its next earnings results on Monday, April 20th.
According to Zacks, analysts expect that CNB Financial will report full year sales of $160.69 million for the current year, with estimates ranging from $159.88 million to $161.50 million. For the next fiscal year, analysts forecast that the firm will post sales of $183.61 million, with estimates ranging from $183.20 million to $184.02 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow CNB Financial.
CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.69 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.69. CNB Financial had a net margin of 22.06% and a return on equity of 14.00%. The company had revenue of $36.50 million for the quarter, compared to analyst estimates of $37.09 million.
CCNE has been the topic of a number of research reports. Janney Montgomery Scott initiated coverage on shares of CNB Financial in a research report on Tuesday, January 7th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of CNB Financial from a “hold” rating to a “strong sell” rating in a research report on Friday, January 17th. Finally, BidaskClub lowered shares of CNB Financial from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $33.50.
Large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in CNB Financial by 1.4% in the 2nd quarter. BlackRock Inc. now owns 770,225 shares of the bank’s stock worth $21,752,000 after buying an additional 10,629 shares in the last quarter. Rhumbline Advisers increased its stake in CNB Financial by 9.0% in the 3rd quarter. Rhumbline Advisers now owns 22,663 shares of the bank’s stock worth $650,000 after buying an additional 1,877 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in CNB Financial in the 3rd quarter worth $246,000. California Public Employees Retirement System increased its stake in CNB Financial by 43.6% in the 3rd quarter. California Public Employees Retirement System now owns 43,156 shares of the bank’s stock worth $1,239,000 after buying an additional 13,093 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in CNB Financial by 94.8% in the 3rd quarter. Wedge Capital Management L L P NC now owns 26,210 shares of the bank’s stock worth $752,000 after buying an additional 12,753 shares in the last quarter. 44.34% of the stock is currently owned by institutional investors and hedge funds.
CNB Financial stock traded down $0.43 during midday trading on Friday, reaching $29.12. The stock had a trading volume of 5,832 shares, compared to its average volume of 22,423. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.07. CNB Financial has a 52-week low of $23.40 and a 52-week high of $33.78. The firm has a market cap of $444.02 million, a price-to-earnings ratio of 11.07 and a beta of 0.96. The company has a fifty day moving average of $30.95 and a 200 day moving average of $29.99.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, February 27th. CNB Financial’s dividend payout ratio (DPR) 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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