CNB Financial Corp (CCNE)

CNB Financial Corporation is a financial holding company with consolidated assets of approximately $4.7 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, one loan production office, one drive-up office and 44 full-service offices in Pennsylvania, Ohio, and New York. CNB Bank's divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in northwest Pennsylvania and northeast Ohio; FCBank, based in Worthington, Ohio, with offices in central Ohio; and BankOnBuffalo, based in Buffalo, New York, with offices in northern New York. CNB Bank is headquartered in Clearfield, Pennsylvania, with offices in central and north central Pennsylvania.

Company profile

Ticker

CCNE, CCNEP

Exchange

NASDAQ

Website

www.bankcnb.com

CEO

Joseph Bower

Incorporated

Pennsylvania

Location

Pennsylvania

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

State Commercial Banks

Bank Of New York Mellon • State Street • Citizens Financial • Northern Trust • M & T Bank • Popular • Fifth Third Bancorp • Associated Banc-Corp. • First Citizens Bancshares, Inc • SVB Financial ...

SEC CIK

0000736772

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

CNB FINANCIAL CORPORATION • CNB Securities Corporation • Holiday Financial Services Corporation • CNB Risk Management, Inc. ...

IRS number

251450605

CCNE stock data

1M 1Y 5Y

News

From Benzinga Pro

CNB Financial Q2 EPS $0.85 Up From $0.76 YoY, Sales $54.40M Up From $38.30M YoY

19 Jul 22

CNB Financial (NASDAQ:CCNE) reported quarterly earnings of $0.85 per share. This is a 11.84 percent increase over earnings of $0.76 per share from the same period last year. The company reported $54.40 million in sales

Press releases

From Benzinga Pro

CNB Financial Corporation Announces Quarterly Dividend For Common Stock

9 Aug 22

CLEARFIELD, Pa., Aug. 09, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (NASDAQ:CCNE) declared a quarterly cash dividend of $0.175 per share of common stock payable on September 15, 2022

CNB Financial Corporation Announces Quarterly Dividend for Series A Preferred Stock and Related Depositary Shares Distribution

4 Aug 22

CLEARFIELD, Pa., Aug. 04, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (NASDAQ:CCNE) (the "Corporation") has announced the declaration of a quarterly cash dividend of $0.4453125

CNB Financial Corporation Reports Second Quarter 2022 Earnings Per Share Of $0.85 Compared To $0.76 For Second Quarter 2021

19 Jul 22

CLEARFIELD, Pa., July 19, 2022 (GLOBE NEWSWIRE) -- CNB Financial Corporation ("CNB" or the "Corporation") (NASDAQ:CCNE), the parent company of CNB Bank, today announced its earnings for the quarter and six months ended

CNB Financial Corporation Announces Quarterly Dividend For Common Stock

17 May 22

Investment data

Data from SEC filings

Securities sold

Number of investors

Calendar

4 Aug 22

11 Aug 22

31 Dec 22

Financial summary

Financial statements Chart CCNE financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	284.15M	284.15M	284.15M	284.15M	284.15M	284.15M
Cash burn (monthly)	40.27M	37.79M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	56.68M	53.19M	n/a	n/a	n/a	n/a
Cash remaining	227.47M	230.96M	n/a	n/a	n/a	n/a
Runway (months of cash)	5.6	6.1	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Recent insider trades

CCNE insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
8 Jun 22	Scott Nicholas N. Jr.	common stock	Buy	Acquire P	No	No	25.12	59.477	1.49K	25,497.85
8 Jun 22	Young Julie M.	common stock	Buy	Acquire P	No	No	25.12	19.826	498.03	3,597.776
22 Apr 22	Peduzzi Michael D	common stock	Buy	Acquire P	No	No	26.75	2,500	66.88K	13,845
10 Mar 22	Scott Nicholas N. Jr.	common stock	Buy	Acquire P	No	No	26.24	55.049	1.44K	25,438.38
9 Mar 22	Young Julie M.	common stock	Buy	Acquire P	No	No	26.2403	37.965	996.21	3,577.95

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

CCNE institutional ownership history Ownership history

42.2% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	91	92	-1.1%
Opened positions	8	11	-27.3%
Closed positions	9	4	+125.0%
Increased positions	25	33	-24.2%
Reduced positions	34	21	+61.9%

13F shares	Current	Prev Q	Change
Total value	187.49M	389.38M	-51.8%
Total shares	7.12M	7.12M	+0.0%
Total puts	0	0
Total calls	0	0
Total put/call ratio	–	–	–

Largest owners	Shares	Value	Change
BLK Blackrock	1.09M	$28.62M	-2.5%
Vanguard	777.27K	$20.46M	-0.3%
Dimensional Fund Advisors	633.3K	$16.67M	+3.0%
Wellington Management	549.2K	$14.45M	+2.9%
Banc Funds	294.96K	$7.76M	+23.3%
STT State Street	284.11K	$7.48M	+3.1%
Geode Capital Management	282.2K	$7.43M	+1.5%
Emerald Advisers	277.22K	$7.3M	-3.1%
CNB Bank	224.97K	$5.92M	+13.0%
SF Stifel Financial	204.66K	$5.39M	-3.2%

Largest transactions	Shares	Bought/sold	Change
EJF Capital	0	-67.64K	EXIT
Banc Funds	294.96K	+55.8K	+23.3%
Maltese Capital Management	200K	+40K	+25.0%
Hotchkis & Wiley Capital Management	139.15K	+32.66K	+30.7%
FMR	153.78K	+28.78K	+23.0%
BLK Blackrock	1.09M	-27.82K	-2.5%
CNB Bank	224.97K	+25.94K	+13.0%
Royce & Associates	103.13K	-22K	-17.6%
Exchange Traded Concepts	0	-21.04K	EXIT
Pekin Hardy Strauss	129.11K	-20.2K	-13.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

Management Discussion

Net income was $57.7 million, or $3.16 per diluted common share, for the year ended December 31, 2021, compared to $32.7 million, or $1.97 per diluted share, for the year ended December 31, 2020, reflecting increases of $25.0 million, or 76.2%, and $1.19 per diluted share, or 60.4%. The primary drivers of the increase in net income were the growth in earning assets and PPP related fees. In addition, included in net income for the year ended December 31, 2020 was the after-tax impact of $10.2 million, or $0.63 per diluted share, in merger costs, FHLB prepayment penalties and branch closure costs. Partially offsetting were the growth in operating expenses to support the Corporation's growth, as well as a lower net interest margin as a result of the low interest rate environment. Pre-provision net revenue ("PPNR") was $76.8 million for the year ended December 31, 2021, compared to $55.4 million for the year ended December 31, 2020, reflecting an increase of $21.3 million, or 38.5%. Included in PPNR for the year ended December 31, 2020 was $12.6 million in merger costs, prepayment penalties and branch closure costs.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore V bad

New words: accelerated, acknowledgement, attracting, chain, death, domestic, focused, forward, frame, geopolitical, inflation, negotiated, newly, notable, notice, persistent, respecitvely, strategic, supply

Removed: alternative, bearing, expect, hiring, implemented, November, organic, ratified, respond, restructuring, strength, terminated

From filing 10-Q 2022 Q2

Financial reports

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