CNB Financial Co. (NASDAQ:CCNE) Declares Quarterly Dividend of $0.18

CNB Financial Co. (NASDAQ:CCNE) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.18 per share by the bank on Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Friday, November 29th.

CNB Financial has increased its dividend by an average of 1.0% annually over the last three years. CNB Financial has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect CNB Financial to earn $2.50 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 28.8%.

CNB Financial Price Performance

CCNE traded up $0.07 during trading hours on Thursday, hitting $27.94. The company’s stock had a trading volume of 41,759 shares, compared to its average volume of 46,716. CNB Financial has a 12 month low of $17.74 and a 12 month high of $29.29. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The business’s 50-day moving average price is $24.71 and its 200-day moving average price is $22.51. The stock has a market cap of $586.46 million, a price-to-earnings ratio of 11.94 and a beta of 0.68.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The business had revenue of $94.21 million during the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. Sell-side analysts expect that CNB Financial will post 2.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

CNB Financial Company Profile

CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.