Overview
Banking firm's Q4 net income rose significantly compared to previous quarter and last year
Adjusted EPS for Q4 increased from previous quarter
Company's Q4 net interest income rose, driven by ESSA acquisition and organic loan growth
Outlook
CNB Financial did not provide specific future guidance
Result Drivers
ESSA ACQUISITION - The acquisition of ESSA Bancorp significantly boosted net interest income and overall earnings
ORGANIC LOAN GROWTH - Organic loan growth was modest at $26.6 mln, driven by Ridge View Bank and BankOnBuffalo markets
DEPOSIT GROWTH - Organic deposit growth was $122.1 mln, driven by Treasury Management activities with municipal deposits
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Adjusted Revenue | $26.30 mln | ||
Q4 EPS | $1.10 | ||
Q4 Net Income | $33.65 mln | ||
Q4 Net Interest Income | $74.28 mln | ||
Q4 Pretax Profit | $41.79 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for CNB Financial Corp is $28.00, about 3.4% above its January 26 closing price of $27.09
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nGNX9PdvJr
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)