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Investing.com - Keefe, Bruyette & Woods raised its price target on CNB Financial Corp (NASDAQ:CCNE) to $29.00 from $26.00 on Friday, while maintaining a Market Perform rating on the stock.
The investment firm cited CNB Financial’s strong second-quarter results, which slightly exceeded consensus estimates and significantly surpassed the firm’s own projections. The company’s performance was driven by stronger loan growth and favorable repricing actions on both assets and funding. With a market capitalization of $512.5 million and revenue growth of 4.79% in the last twelve months, CNB Financial has maintained a solid financial position. InvestingPro subscribers can access additional insights, including 6 key ProTips about the company’s growth prospects and financial health.
CNB Financial achieved a 25 basis point sequential expansion in net interest margin (NIM), with the firm expecting an additional 5-7 basis point expansion in the second half of 2025. The company’s commercial loan pipeline and success in winning deposits on its Treasury Management platform contributed to the positive outlook.
The firm also noted that CNB Financial’s work-out efforts resulted in approximately 50% reduction in non-performing assets, with anticipated improvements in credit performance going forward. The stronger net interest income trends prompted Keefe, Bruyette & Woods to raise its estimates for the company.
The ESSA merger, an important strategic initiative for CNB Financial, remains on track to close Friday afternoon, according to the investment firm’s report.
In other recent news, CNB Financial Corporation reported second-quarter earnings that exceeded analyst expectations, driven by strong loan growth and an improved net interest margin. The bank posted adjusted earnings of $0.63 per share for the quarter ending June 30, 2025, surpassing the analyst estimate of $0.60. Revenue reached $61.2 million, beating the consensus estimate of $59.55 million. Additionally, CNB Financial completed its merger with ESSA Bancorp (NASDAQ:ESSA), Inc. on July 23, 2025. As a result of the merger, ESSA Bank & Trust has merged with CNB Bank and will operate as ESSA Bank, a division of CNB Bank. This expansion extends CNB Bank’s presence into Northeastern Pennsylvania, including the Lehigh Valley region, adding 20 community offices to its network. These developments highlight significant growth and strategic expansion for CNB Financial.
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