CNB Financial Corporation Depositary Shares each representing a 1/40th ownership interest in a share of 7.125% Series A Fixed-Rate Non-Cumulative Perpetual Preferred Stock (CCNEP)

FairStock Score: 81/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at CCNEP as a preferred claim on CNB Financial, a regional bank holding company, not as common equity. The depositary shares are 1/40th of a 7.125% Series A fixed-rate non-cumulative perpetual preferred. At the 2026-10-13 close of $24.75, the coupon equals about a 7.2% yield, near the top of the 52-week range of $23.57 to $25.50. The issuer has been profitable: in fiscal Q2 2026, the quarter ended 2026-06-30, net income was $28.3 million and diluted EPS was $0.91; in fiscal Q1 2026 net income was $27.0 million and diluted EPS $0.88. For FY2025, net income was $66.1 million and diluted EPS $2.49, versus FY2024 net income of $54.6 million and diluted EPS $2.39 and FY2023 net income of $58.0 million and diluted EPS $2.55. FairStock calculations show a P/E of 7.69, P/B of 0.85, ROE of 12.42%, Piotroski F-score of 7/9, and a FairStock score of 81/100; the computed Lynch category is STALWART. That suggests a steady, reasonably profitable bank. The moat is modest, because regional banking is competitive, so funding and underwriting discipline matter more than romance. For this preferred, credit and capital are the key risks. It is non-cumulative: if the board skips the dividend, it does not accrue. The data do not provide CET1, net interest margin, charge-offs, or reserve coverage, so balance-sheet strength cannot be fully judged. Valuation looks fair for the preferred: a high yield near par, but with limited upside and meaningful bank risk.

In plain English: CNB Financial is the parent of a regional bank. These preferred shares pay a fixed 7.125% dividend, but the dividend is not guaranteed and does not build up if it is skipped. The bank has been profitable, and the preferred price near $24.75 offers a high income stream with bank credit risk; based on the numbers given, it looks modestly attractive but not risk-free.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-K (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer