CNB Financial Q4 net income rises

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

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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