CNB Financial (CCNE) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

CNB Financial (NASDAQ:CCNE) announced its quarterly earnings data on Monday. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06, Bloomberg Earnings reports. CNB Financial had a net margin of 22.37% and a return on equity of 14.12%. The company had revenue of $33.91 million during the quarter, compared to analysts’ expectations of $33.38 million.

Shares of CNB Financial stock opened at $26.75 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.96 and a quick ratio of 0.96. CNB Financial has a twelve month low of $21.43 and a twelve month high of $32.86. The firm has a market cap of $409.64 million, a P/E ratio of 12.10 and a beta of 0.79.

A number of analysts recently weighed in on the stock. BidaskClub cut shares of CNB Financial from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. ValuEngine cut shares of CNB Financial from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. Boenning Scattergood reaffirmed a “buy” rating and set a $31.00 price target on shares of CNB Financial in a research report on Tuesday. Finally, Zacks Investment Research cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Monday, December 24th.

A hedge fund recently raised its stake in CNB Financial stock. Geode Capital Management LLC boosted its position in CNB Financial Corp (NASDAQ:CCNE) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,032 shares of the bank’s stock after buying an additional 8,090 shares during the quarter. Geode Capital Management LLC owned 0.96% of CNB Financial worth $3,351,000 at the end of the most recent quarter. 43.73% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History for CNB Financial (NASDAQ:CCNE)

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