NasdaqGS:CCNE

Stock Analysis Report

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Executive Summary

CNB Financial Corporation 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.


Snowflake Analysis

Excellent balance sheet established dividend payer.


Similar Companies

Share Price & News

How has CNB Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CCNE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

8.8%

CCNE

7.1%

US Banks

-0.04%

US Market


1 Year Return

-30.8%

CCNE

-14.6%

US Banks

17.1%

US Market

Return vs Industry: CCNE underperformed the US Banks industry which returned -17.7% over the past year.

Return vs Market: CCNE underperformed the US Market which returned 16.8% over the past year.


Shareholder returns

CCNEIndustryMarket
7 Day8.8%7.1%-0.04%
30 Day8.8%8.7%5.1%
90 Day29.2%22.8%19.5%
1 Year-28.9%-30.8%-11.6%-14.6%19.6%17.1%
3 Year-21.3%-27.0%-7.4%-14.9%42.5%33.3%
5 Year19.3%3.5%18.3%3.9%75.1%56.2%

Price Volatility Vs. Market

How volatile is CNB Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is CNB Financial undervalued compared to its fair value and its price relative to the market?

47.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CCNE ($17.99) is trading below our estimate of fair value ($34.2)

Significantly Below Fair Value: CCNE is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CCNE is good value based on its PE Ratio (7.3x) compared to the US Banks industry average (10x).

PE vs Market: CCNE is good value based on its PE Ratio (7.3x) compared to the US market (19.2x).


Price to Earnings Growth Ratio

PEG Ratio: CCNE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: CCNE's PB Ratio (0.8x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is CNB Financial forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-1.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CCNE's earnings are forecast to decline over the next 3 years (-1% per year).

Earnings vs Market: CCNE's earnings are forecast to decline over the next 3 years (-1% per year).

High Growth Earnings: CCNE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: CCNE's revenue (0.5% per year) is forecast to grow slower than the US market (9.4% per year).

High Growth Revenue: CCNE's revenue (0.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CCNE's Return on Equity is forecast to be low in 3 years time (8.7%).


Next Steps

Past Performance

How has CNB Financial performed over the past 5 years?

14.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CCNE has high quality earnings.

Growing Profit Margin: CCNE's current net profit margins (28.1%) are lower than last year (28.8%).


Past Earnings Growth Analysis

Earnings Trend: CCNE's earnings have grown by 14.9% per year over the past 5 years.

Accelerating Growth: CCNE's earnings growth over the past year (1.3%) is below its 5-year average (14.9% per year).

Earnings vs Industry: CCNE earnings growth over the past year (1.3%) exceeded the Banks industry -3%.


Return on Equity

High ROE: CCNE's Return on Equity (11.5%) is considered low.


Next Steps

Financial Health

How is CNB Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: CCNE's Assets to Equity ratio (13.5x) is moderate.

Allowance for Bad Loans: CCNE has a low allowance for bad loans (83%).

Low Risk Liabilities: 87% of CCNE's liabilities are made up of primarily low risk sources of funding.

Loan Level: CCNE has an appropriate level of Loans to Assets ratio (67%).

Low Risk Deposits: CCNE's Loans to Deposits ratio (84%) is appropriate.

Level of Bad Loans: CCNE has an appropriate level of bad loans (1%).


Next Steps

Dividend

What is CNB Financial current dividend yield, its reliability and sustainability?

3.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CCNE's dividend (3.78%) is higher than the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: CCNE's dividend (3.78%) is low compared to the top 25% of dividend payers in the US market (4.29%).


Stability and Growth of Payments

Stable Dividend: CCNE's dividends per share have been stable in the past 10 years.

Growing Dividend: CCNE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (27.4%), CCNE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CCNE's dividends in 3 years are forecast to be well covered by earnings (34% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.1yrs

Average management tenure


CEO

Joe Bower (56 yo)

10.58yrs

Tenure

US$1,664,645

Compensation

Mr. Joseph B. Bower, Jr. also known as Joe, has been the Chief Executive Officer of CNB Financial Corporation since January 1, 2010 and has been its Director since April 19, 2005. Mr. Bower serves as the C ...


CEO Compensation Analysis

Compensation vs Market: Joe's total compensation ($USD1.66M) is about average for companies of similar size in the US market ($USD2.02M).

Compensation vs Earnings: Joe's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Joseph Bower
President10.58yrsUS$1.66m1.93%
$ 5.9m
Tito Lima
Executive VP1.08yrsUS$299.91k0.0089%
$ 27.1k
Joseph Dell
Senior EVP & Chief Commercial Banking Officer6.67yrsUS$515.84k0.061%
$ 184.6k
Richard Greslick
Senior Executive VP8.75yrsUS$635.62k0.11%
$ 331.2k
Helen Kolar
Vice Presidentno datano datano data
Leanne Kassab
Executive Vice President of Customer Experience5yrsno data0.042%
$ 126.3k
Mary Conaway
Executive Vice President of Employee Experienceno datano data0.049%
$ 149.7k
Vincent Turiano
Assistant Secretary & Executive VP of Operationsno dataUS$171.08kno data
Steven R. Shilling
Executive Vice President of Private Client Solutions3.17yrsno data0.015%
$ 44.5k
Martin Griffith
Executive VP & BankOnBuffalo Market Presidentno datano data0.028%
$ 84.2k
Gregory Dixon
Executive VP & Chief Risk Officerno datano data0.045%
$ 136.0k
Cory Johnston
VP & Controller2.58yrsno datano data

4.1yrs

Average Tenure

56yo

Average Age

Experienced Management: CCNE's management team is considered experienced (4.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Joseph Bower
President10.58yrsUS$1.66m1.93%
$ 5.9m
Richard Greslick
Senior Executive VP8.75yrsUS$635.62k0.11%
$ 331.2k
Jeffrey Powell
Independent Director25.67yrsUS$95.48k0.76%
$ 2.3m
Deborah Pontzer
Independent Director17.17yrsUS$84.80k0.19%
$ 578.1k
Robert Montler
Independent Director15.17yrsUS$80.80k0.33%
$ 1.0m
Nicholas Scott
Independent Director7.25yrsUS$82.40k0.089%
$ 269.0k
Richard Seager
Independent Director9.67yrsUS$83.95k0.083%
$ 250.1k
Peter Smith
Independent Chairman of the Board3.58yrsUS$141.90k0.51%
$ 1.5m
Joel Peterson
Independent Director8.92yrsUS$78.40k0.074%
$ 223.4k
Peter Varischetti
Independent Director5.08yrsUS$77.90k0.059%
$ 177.7k
Francis Straub
Independent Director5.33yrsUS$78.80k0.13%
$ 391.6k
Julie Young
Independent Director1.25yrsUS$23.20k0.0025%
$ 7.6k

8.8yrs

Average Tenure

57.5yo

Average Age

Experienced Board: CCNE's board of directors are considered experienced (8.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CCNE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.3%.


Top Shareholders

Company Information

CNB Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CNB Financial Corporation
  • Ticker: CCNE
  • Exchange: NasdaqGS
  • Founded: 1865
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$303.012m
  • Shares outstanding: 16.84m
  • Website: https://www.cnbbank.bank

Number of Employees


Location

  • CNB Financial Corporation
  • 1 South Second Street
  • PO Box 42
  • Clearfield
  • Pennsylvania
  • 16830
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CCNENasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 1990
44IDB (Deutsche Boerse AG)YesCommon StockDEEUROct 1990

Biography

CNB Financial Corporation 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. The c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/12 00:07
End of Day Share Price2020/08/11 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.