Analysts expect CNB Financial Co. (NASDAQ:CCNE) to announce sales of $49.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for CNB Financial’s earnings. The highest sales estimate is $50.10 million and the lowest is $49.10 million. CNB Financial posted sales of $48.08 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The firm is scheduled to issue its next earnings results on Tuesday, January 25th.
On average, 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 company will report sales of $203.00 million, with estimates ranging from $201.40 million to $204.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for CNB Financial.
CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Sunday, October 24th. The bank reported $0.82 earnings per share 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 the consensus estimate of $48.10 million.
Shares of CCNE traded down $0.68 during trading hours on Thursday, hitting $27.88. The company had a trading volume of 17,583 shares, compared to its average volume of 38,307. The firm has a market cap of $470.98 million, a P/E ratio of 10.10 and a beta of 1.02. The stock’s 50 day moving average price is $25.45 and its 200 day moving average price is $24.58. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.41. CNB Financial has a 52-week low of $19.59 and a 52-week high of $28.59.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 1st will be issued a $0.175 dividend. The ex-dividend date is Tuesday, November 30th. This represents a $0.70 annualized dividend and a dividend yield of 2.51%. This is an increase from CNB Financial’s previous quarterly dividend of $0.17. CNB Financial’s payout ratio is currently 24.64%.
In other CNB Financial news, COO Michael D. Peduzzi purchased 5,000 shares of CNB Financial stock in a transaction that occurred on Friday, September 10th. The shares were bought at an average price of $24.18 per share, for a total transaction of $120,900.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.77% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in CCNE. Dimensional Fund Advisors LP boosted its position in CNB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 630,319 shares of the bank’s stock valued at $15,513,000 after acquiring an additional 8,816 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in 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 acquiring an additional 8,700 shares in the last quarter. Sei Investments Co. bought a new stake in CNB Financial during the 2nd quarter valued at approximately $535,000. Bank of New York Mellon Corp boosted its position in CNB Financial by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 105,336 shares of the bank’s stock valued at $2,404,000 after acquiring an additional 657 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in CNB Financial by 38.0% during the 2nd quarter. Bank of Montreal Can now owns 57,248 shares of the bank’s stock valued at $1,365,000 after acquiring an additional 15,767 shares in the last quarter. Institutional investors own 39.34% of the company’s stock.
About CNB Financial
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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