Boenning & Scattergood Maintains a Buy Rating on Cnb Financial Corp (CCNE)


Boenning & Scattergood analyst Matthew Schultheis maintained a Buy rating on Cnb Financial Corp (CCNE) today. The company’s shares opened today at $24.74.

Schultheis commented:

“We view an investment in CCNE shares as a compelling purchase. We believe the move back to a build versus a buy model is likely to yield a higher return on invested capital than acquisitions. By sticking to a tried-and-true strategy with a history of positive execution, we suspect growth will smooth from recent lumpiness. The shares trade at a discount to peers on a 2019 P/E basis (9.8x [B&S] vs. 11.4x), but at a premium on tangible book (1.8x vs. 1.6x); we believe the split is caused by CNB’s relative capital position. To a certain extent, we believe the market is pricing in a capital raise, but we note that tangible book value builds at an 11.9% CAGR from 2017 through 2020. Investors can achieve a 2.7% capitalized dividend yield at current share price levels while they wait for earnings acceleration.”

According to TipRanks.com, Schultheis is a 3-star analyst with an average return of 2.0% and a 46.4% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Fulton Financial Corp.

Cnb Financial Corp has an analyst consensus of Hold.

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Cnb Financial Corp’s market cap is currently $378.8M and has a P/E ratio of 13.44. The company has a Price to Book ratio of 1.49.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CCNE in relation to earlier this year.

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CNB Financial Corp. (Pennsylvania) is a financial holding company, which through its subsidiaries engages in the provision of banking and financial solutions. It operates through Reviewed and Homogeneous Pool segments. The Reviewed Pool segment include commercial, industrial, and agricultural; and commercial mortgages.

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