CNB Financial initiated with an Overweight at Stephens

Stephens initiated coverage of CNB Financial (CCNE) with an Overweight rating and $26.50 price target. The firm believes the $6.2B, soon to be $8.5B, western Pennsylvania franchise is “a strong, but not well-known story,” with the potential for net interest margin expansion with the soon-to-be-closed ESSA Bancorp (ESSA) acquisition.