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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
Website
CEO
Joseph Bower
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
CNB FINANCIAL CORPORATION • CNB Securities Corporation • Holiday Financial Services Corporation • CNB Risk Management, Inc. ...
IRS number
251450605

CCNE stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 22
11 Aug 22
31 Dec 22
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

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
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%

Financial report summary

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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

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H.S. sophomore V bad
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Removed: alternative, bearing, expect, hiring, implemented, November, organic, ratified, respond, restructuring, strength, terminated