Overview

* CNB Financial ( CCNE ) Q3 net income was $6 mln, down from $12.9 mln in Q2

* Adjusted EPS for Q3 was $0.82, reflecting a 30.16% increase from Q2

* Company completed ESSA Bancorp acquisition, adding $2.1 bln in assets

Outlook

* Company expects cost savings and earnings accretion from ESSA acquisition

* Company anticipates integration efficiencies from ESSA merger

* Company confident in forward earnings profile post-ESSA merger

Result Drivers

* ESSA ACQUISITION - Acquisition added $2.1 bln in assets and $1.5 bln in deposits, expanding branch network and footprint

* NET INTEREST INCOME - Increase driven by ESSA acquisition and organic loan growth

* ORGANIC GROWTH - Organic loan and deposit growth contributed to financial performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $27.50

Adjusted mln

Revenue

Q3 EPS $0.22

Q3 Net $7.04

Income mln

Q3 Net $67.12

Interest mln

Income

Q3 $18.45

Credit mln

Loss

Provisio

n

Q3 $9.08

Pretax mln

Profit

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 ( CCNE ) is $28.00, about 13.3% above its October 29 closing price of $24.29

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)