CNB Financial Corp. to Post Q1 2017 Earnings of $0.39 Per Share, Boenning Scattergood Forecasts (CCNE)
CNB Financial Corp. (NASDAQ:CCNE) – Boenning Scattergood boosted their Q1 2017 earnings per share (EPS) estimates for CNB Financial Corp. in a report issued on Tuesday. Boenning Scattergood analyst M. Schultheis now expects that the firm will post earnings per share of $0.39 for the quarter, up from their prior estimate of $0.38. Boenning Scattergood also issued estimates for CNB Financial Corp.’s Q2 2017 earnings at $0.38 EPS, Q3 2017 earnings at $0.41 EPS, Q4 2017 earnings at $0.47 EPS and FY2017 earnings at $1.65 EPS.
Separately, Zacks Investment Research raised CNB Financial Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 19th.
Shares of CNB Financial Corp. (NASDAQ:CCNE) opened at 24.00 on Wednesday. The stock has a 50 day moving average of $20.60 and a 200 day moving average of $19.18. CNB Financial Corp. has a 1-year low of $16.51 and a 1-year high of $24.20. The company has a market cap of $344.66 million, a price-to-earnings ratio of 16.55 and a beta of 0.78.
CNB Financial Corp. (NASDAQ:CCNE) last posted its earnings results on Thursday, October 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. CNB Financial Corp. had a net margin of 19.52% and a return on equity of 10.05%.
A number of hedge funds have recently made changes to their positions in CCNE. Cornerstone Capital Management Holdings LLC. raised its stake in shares of CNB Financial Corp. by 51.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 21,102 shares of the company’s stock worth $445,000 after buying an additional 7,200 shares during the last quarter. Banc Funds Co. LLC raised its stake in shares of CNB Financial Corp. by 1.2% in the third quarter. Banc Funds Co. LLC now owns 233,823 shares of the company’s stock worth $4,948,000 after buying an additional 2,701 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of CNB Financial Corp. during the third quarter worth approximately $220,000. HighTower Advisors LLC raised its stake in shares of CNB Financial Corp. by 50.9% in the third quarter. HighTower Advisors LLC now owns 16,228 shares of the company’s stock worth $345,000 after buying an additional 5,477 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of CNB Financial Corp. by 52.3% in the third quarter. Morgan Stanley now owns 12,435 shares of the company’s stock worth $264,000 after buying an additional 4,272 shares during the last quarter. 34.31% of the stock is owned by institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, November 29th. CNB Financial Corp.’s payout ratio is 45.52%.
CNB Financial Corp. Company Profile
CNB Financial Corporation is a financial holding company. The Company provides a range of banking and related services through its subsidiary, CNB Bank (the Bank). In addition, the Bank provides trust and asset management services, including the administration of trusts and estates, retirement plans and other employee benefit plans, as well as a range of wealth management services.
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