Equities research analysts expect CNB Financial Co. (NASDAQ:CCNE) to post $49.60 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for CNB Financial’s earnings, with estimates ranging from $49.10 million to $50.10 million. CNB Financial reported sales of $48.08 million during the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The firm is expected to report its next quarterly earnings report on Tuesday, January 25th.
According to Zacks, analysts expect that CNB Financial will report full-year sales of $191.85 million for the current financial year, with estimates ranging from $191.80 million to $191.90 million. For the next year, analysts expect that the business will report sales of $203.00 million, with estimates ranging from $201.40 million to $204.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for CNB Financial.
CNB Financial (NASDAQ:CCNE) last announced its earnings results on Sunday, October 24th. The bank reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. CNB Financial had a return on equity of 15.47% and a net margin of 24.00%. The business had revenue of $48.71 million for the quarter, compared to analyst estimates of $48.10 million.
Shares of NASDAQ:CCNE traded down $0.68 during trading on Thursday, hitting $27.88. 17,583 shares of the company were exchanged, compared to its average volume of 38,307. The stock has a market cap of $470.98 million, a price-to-earnings ratio of 10.10 and a beta of 1.02. CNB Financial has a fifty-two week low of $19.59 and a fifty-two week high of $28.59. The firm has a fifty day moving average price of $25.45 and a two-hundred day moving average price of $24.58. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.41.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be given a dividend of $0.175 per share. This is a positive change from CNB Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, November 30th. This represents a $0.70 annualized dividend and a dividend yield of 2.51%. CNB Financial’s payout ratio is 24.64%.
In other CNB Financial news, COO Michael D. Peduzzi bought 5,000 shares of CNB Financial stock in a transaction dated Friday, September 10th. The stock was bought at an average cost of $24.18 per share, for a total transaction of $120,900.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.77% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in CNB Financial by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 630,319 shares of the bank’s stock worth $15,513,000 after purchasing an additional 8,816 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of CNB Financial by 10.2% during the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 94,325 shares of the bank’s stock valued at $2,152,000 after purchasing an additional 8,700 shares in the last quarter. Sei Investments Co. bought a new stake in shares of CNB Financial during the 2nd quarter valued at about $535,000. Bank of New York Mellon Corp boosted its holdings in CNB Financial by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 105,336 shares of the bank’s stock worth $2,404,000 after acquiring an additional 657 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in CNB Financial by 38.0% in the second quarter. Bank of Montreal Can now owns 57,248 shares of the bank’s stock worth $1,365,000 after acquiring an additional 15,767 shares in the last quarter. 39.34% of the stock is owned by institutional investors.
CNB Financial Company Profile
CNB Financial Corp. is a financial holding company, which engages in the provision of banking and financial solutions. It offers deposit accounts, private banking, real estate, commercial, industrial, residential and consumer loans, lines of credit, credit cards, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.
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