Company profile

Ticker
CCNE
Exchange
Website
CEO
Joseph B. Bower
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
251450605

CCNE stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

7 May 20
9 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 40.09M 40.61M 40.09M 38.28M
Net income 8.81M 10.48M 10.36M 9.77M
Diluted EPS 0.57 0.69 0.68 0.64
Net profit margin 21.98% 25.82% 25.84% 25.51%
Net change in cash -56.63M 140.81M 14.23M -17.35M
Cash on hand 136.34M 192.97M 52.16M 37.93M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 155.73M 131.87M 108.87M 94.32M
Net income 40.08M 33.72M 23.86M 20.54M
Diluted EPS 2.63 2.21 1.57 1.42
Net profit margin 25.74% 25.57% 21.92% 21.78%
Net change in cash 147.41M 10.22M 6.16M 1.92M
Cash on hand 192.97M 45.56M 35.35M 29.18M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
11 Jun 20 Powell Jeffrey S common stock Buy Aquire P No 17.83 405 7.22K 123,580
10 Jun 20 Scott Nicholas N. Jr. common stock Buy Aquire P No 19.01 47.104 895.45 14,951.959
10 Jun 20 Young Julie M. common stock Buy Aquire P No 19.01 23.552 447.72 424.318
20 May 20 Joseph B Bower JR common stock Other Aquire J No 13.92 360 5.01K 669.984
20 May 20 Joseph B Bower JR common stock Other Dispose J No 13.92 360 5.01K 48,059
15 May 20 Joseph B Bower JR common stock Buy Aquire P No 14.13 2,000 28.26K 48,419
44.2% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 81 85 -4.7%
Opened positions 10 11 -9.1%
Closed positions 14 1 +1300.0%
Increased positions 25 28 -10.7%
Reduced positions 29 29
13F shares
Current Prev Q Change
Total value 306.58M 499.43M -38.6%
Total shares 6.8M 6.85M -0.8%
Total puts 0 0
Total calls 0 6.2K EXIT
Total put/call ratio
Largest owners
Shares Value Change
BLK BlackRock 834.19K $15.74M +1.5%
Vanguard 743.87K $14.04M +8.1%
Royce & Associates 656.31K $12.39M -10.6%
Dimensional Fund Advisors 598.47K $11.29M +1.8%
Emerald Advisers 373.06K $7.04M -3.9%
Wellington Management 360.22K $6.8M 0.0%
Renaissance Technologies 333.3K $6.29M +1.3%
STT State Street 294.45K $5.56M +3.7%
NTRS Northern Trust 268.12K $5.06M +0.7%
Banc Funds 233.54K $4.41M -8.7%
Largest transactions
Shares Bought/sold Change
Royce & Associates 656.31K -77.63K -10.6%
Bridgeway Capital Management 61.4K -73.2K -54.4%
Vanguard 743.87K +55.93K +8.1%
Millennium Management 45.65K +45.65K NEW
Cornercap Investment Counsel 35.9K +35.9K NEW
Two Sigma Investments 28.68K +22.23K +344.2%
Banc Funds 233.54K -22.2K -8.7%
MS Morgan Stanley 4.44K -18.37K -80.5%
Russell Investments 22.78K +17.08K +299.3%
Emerald Advisers 373.06K -15.06K -3.9%

Financial report summary

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Risks
  • The possibility of the economy’s return to recessionary conditions and the possibility of further turmoil or volatility in the financial markets would likely have an adverse effect on the Corporation’s business, financial position and results of operations.
  • The Bank’s allowance for loan losses may not be adequate to cover loan losses which could have a material adverse effect on the Corporation’s business, financial condition and results of operations.
  • Interest rate volatility could significantly reduce the Corporation’s profitability.
  • The Bank’s loans are principally concentrated in certain areas of Pennsylvania, Ohio and New York, and adverse economic conditions in those markets could adversely affect the Corporation’s business, financial condition and results of operations.
  • The Corporation’s investment securities portfolio is subject to credit risk, market risk, and liquidity risk, and declines in value in its investment securities portfolio may require it to record other-than-temporary impairment charges that could have a material adverse effect on its results of operations and financial condition.
  • The Corporation is subject to extensive government regulation and supervision, which may affect its ability to conduct its business and may negatively impact its financial results.
  • The Corporation relies on its management and other key personnel, and the loss of any of them may adversely affect its operations.
  • Strong competition within the Corporation’s markets and technological change may have a material adverse impact on its profitability.
  • The Corporation's risk management framework may not be effective in mitigating risk and loss.
  • A failure in or breach of the Corporation’s or any of its subsidiaries’ operational or security systems or infrastructure, or those of third party vendors and other service providers, including as a result of cyber attacks, could disrupt the Corporation’s or any of its subsidiaries’ businesses, result in the disclosure or misuse of confidential or proprietary information, damage its reputation, increase its costs and cause losses.
  • The Corporation may not be able to meet its cash flow needs on a timely basis at a reasonable cost, and the Corporation’s cost of funds for banking operations may significantly increase as a result of general economic conditions, interest rates and competitive pressures.
  • A substantial decline in the value of the Bank’s FHLB common stock may adversely affect the Corporation’s results of operations, liquidity and financial condition.
  • The Bank could be held responsible for environmental liabilities relating to properties acquired through foreclosure, resulting in significant financial loss.
  • Federal and state governments could pass legislation responsive to current credit conditions which could cause the Corporation to experience higher credit losses.
  • The preparation of the Corporation’s financial statements requires the use of estimates that could significantly vary from actual results, which could have a material adverse effect on the Corporation’s business, financial condition, results of operations or liquidity.
  • The Corporation’s financial results may be subject to the impact of changes in accounting standards or interpretation in new or existing standards.
  • The unsoundness of other financial institutions with which the Corporation does business could adversely affect the Corporation’s business, financial condition or results of operations.
  • Some provisions contained in the Corporation’s articles of incorporation and its bylaws and under Pennsylvania law could deter a takeover attempt or delay changes in control or management of the Corporation.
  • The price of the Corporation’s common stock may fluctuate significantly, and this may make it difficult for you to resell shares of common stock owned by you at times or at prices you find attractive.
  • The Corporation’s ability to pay dividends is limited by law and regulations.
  • The risks presented by acquisitions could adversely affect our financial condition and results of operations.
  • Replacement of the LIBOR benchmark interest rate could adversely affect our business, financial condition, and results of operations.
Management Discussion
  • Year Ended December 31, 2019 vs. Year Ended December 31, 2018
  • The Corporation had net income of $40.1 million for 2019 compared to $33.7million for 2018, reflecting an increase of $6.4 million, or 18.9%. Net interest income increased $11.3 million, or 10.7%, and non-interest income increased $5.3 million, or 25.3%. The provision for loan losses remained stable at approximately $6.0 million, while non-interest expenses increased by $8.2 million, or 10.3%. Earnings per diluted share were $2.63 in 2019 and $2.21 in 2018, reflecting an increase of $0.42 per diluted share, or 19.0%, over the same period. For the twelve months ended December 31, 2019, return on average assets and the return on average equity were 1.17% and 14.05%, respectively, compared to 1.12% and 13.46%, respectively for 2018. As a measure of the Corporation’s efficiency in management of its expenses, the efficiency ratio of 60.19% for the twelve months ended December 31, 2019 improved from 61.37% during the same period in 2018.
  • Net interest margin on a fully tax equivalent basis was 3.69% and 3.77% for the years ended December 31, 2019 and 2018, respectively. The yield on earning assets increased 20 basis points to 4.93% for the year ended December 31, 2019 from 4.73% for the year ended December 31, 2018. The cost of interest-bearing liabilities increased 33 basis points to 1.45% for the year ended December 31, 2019  from 1.12% for the year ended December 31, 2018.
Content analysis ?
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Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
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