Stock Analysis
CNB Financial (NASDAQ:CCNE) First Quarter 2024 Results
Key Financial Results
- Revenue: US$52.9m (down 2.8% from 1Q 2023).
- Net income: US$11.4m (down 25% from 1Q 2023).
- Profit margin: 22% (down from 28% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
- EPS: US$0.55 (down from US$0.73 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
CNB Financial EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.9%.
Looking ahead, revenue is expected to decline by 3.9% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.1%.
Performance of the American Banks industry.
The company's shares are up 2.6% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on CNB Financial's balance sheet.
Valuation is complex, but we're helping make it simple.
Find out whether CNB Financial is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.
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About NasdaqGS:CCNE
CNB Financial
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.
Flawless balance sheet, undervalued and pays a dividend.