CNB Financial Corp to Post Q2 2018 Earnings of $0.51 Per Share, Boenning Scattergood Forecasts (CCNE)
CNB Financial Corp (NASDAQ:CCNE) – Investment analysts at Boenning Scattergood dropped their Q2 2018 earnings estimates for shares of CNB Financial in a report released on Monday. Boenning Scattergood analyst M. Schultheis now expects that the bank will post earnings of $0.51 per share for the quarter, down from their previous forecast of $0.53. Boenning Scattergood has a “Buy” rating and a $29.50 price objective on the stock. Boenning Scattergood also issued estimates for CNB Financial’s Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $2.16 EPS and FY2019 earnings at $2.56 EPS.
A number of other brokerages have also issued reports on CCNE. ValuEngine lowered CNB Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. BidaskClub lowered CNB Financial from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 3rd. Finally, Zacks Investment Research raised CNB Financial from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a research note on Thursday, December 21st.
In other news, Director Francis X. Straub III purchased 1,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were purchased at an average cost of $26.91 per share, with a total value of $26,910.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CCNE. Brandywine Global Investment Management LLC boosted its stake in CNB Financial by 38.7% during the second quarter. Brandywine Global Investment Management LLC now owns 4,952 shares of the bank’s stock worth $119,000 after buying an additional 1,382 shares during the last quarter. SG Americas Securities LLC acquired a new position in CNB Financial during the third quarter worth $208,000. State Board of Administration of Florida Retirement System acquired a new position in CNB Financial during the third quarter worth $215,000. Wells Fargo & Company MN boosted its stake in CNB Financial by 2.0% during the second quarter. Wells Fargo & Company MN now owns 11,175 shares of the bank’s stock worth $268,000 after buying an additional 217 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in CNB Financial by 8.6% during the second quarter. Voya Investment Management LLC now owns 12,661 shares of the bank’s stock worth $303,000 after buying an additional 1,001 shares during the last quarter. 42.97% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.watchlistnews.com/cnb-financial-corp-to-post-q2-2018-earnings-of-0-51-per-share-boenning-scattergood-forecasts-ccne/1855693.html.
About CNB Financial
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.