Boenning & Scattergood Sticks to Their Buy Rating for Cnb Financial Corp

By Austin Angelo

Boenning & Scattergood analyst Matthew Schultheis maintained a Buy rating on Cnb Financial Corp (NASDAQ: CCNE) today. The company’s shares closed yesterday at $29.15.

Schultheis observed:

“We view an investment in CCNE shares as a compelling purchase. We believe the move back to a build versus a buy model is likely to yield a higher return in invested capital than acquisitions. By sticking to a tried-and-true strategy with a history of positive execution we suspect growth will smooth from recent lumpiness. The shares trade at a discount to peers on a P/E basis (13.4x vs. 14.1x), but a premium on tangible book (2.2x vs. 1.7x); we believe the split is caused by CNB’s relative capital position, but that P/E can expand as capital builds organically through an ROA in the 1.15% range through the modeling period. Investors can achieve a 2.3% capitalized dividend yield at current share price levels while they wait for earnings acceleration. Our $31.25 target price is based on a blend of peer multiples and a discount acquisition analysis.”

According to, Schultheis is a 4-star analyst with an average return of 10.1% and a 76.0% success rate. Schultheis covers the Financial sector, focusing on stocks such as Orrstown Financial Services Inc, Citizens Financial Services Inc, and Provident Financial Services.

Cnb Financial Corp has an analyst consensus of Moderate Buy, with a price target consensus of $35.

The company has a one-year high of $31.46 and a one-year low of $20.91. Currently, Cnb Financial Corp has an average volume of 23.95K.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.

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CNB Financial Corp. (Pennsylvania) is a financial holding company, which through its subsidiaries engages in the provision of banking and financial solutions. It operates through Reviewed and Homogeneous Pool segments. The Reviewed Pool segment include commercial, industrial, and agricultural; and commercial mortgages.