CNB Financial Reports Decrease in Net Income

Cnb Financial ( (CCNE) ) has provided an announcement.

CNB Financial Corporation reported a decrease in net income for the year ending December 31, 2024, primarily due to increased deposit costs compared to the previous year. Despite this, the company showed growth in loans and deposits, with total loans reaching $4.6 billion and total deposits at $5.4 billion by the end of 2024, reflecting increases of 3.14% and 7.45% respectively from 2023. The corporation’s Return on Average Assets and Return on Average Equity also saw declines, while the book value per common share increased by 7.20% to $26.34.

Spark’s Take on CCNE Stock

According to Spark, TipRanks’ AI Analyst, CCNE is a Neutral.

CNB Financial demonstrates solid financial performance with strong revenue growth and no debt, though profitability improvements are needed. The technical analysis suggests bearish trends, but potential undervaluation and a rewarding dividend offer a cushion. The strategic merger is a positive corporate event that could enhance long-term growth prospects.

To see Spark’s full report on CCNE stock, click here.

More about Cnb Financial

CNB Financial Corporation is the parent company of CNB Bank, operating in the financial services industry. The company focuses on providing banking services and products, with a market presence highlighted by its growth in loans and deposits.

YTD Price Performance: -15.15%

Average Trading Volume: 87,013

Technical Sentiment Signal: Buy

Current Market Cap: $439.3M

For detailed information about CCNE stock, go to TipRanks’ Stock Analysis page.