CNB Financial Co. (NASDAQ:CCNE – Get Free Report) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.18 per share by the bank on Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18.
CNB Financial has raised its dividend by an average of 1.0% annually over the last three years. CNB Financial has a dividend payout ratio of 28.2% indicating that 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 $0.70 annual dividend with an expected future payout ratio of 28.0%.
CNB Financial Stock Up 0.0 %
CCNE stock opened at $22.28 on Thursday. The stock has a market capitalization of $467.97 million, a P/E ratio of 9.36 and a beta of 0.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial has a 12 month low of $17.45 and a 12 month high of $26.87. The firm has a 50-day moving average price of $21.50 and a 200-day moving average price of $20.46.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on CNB Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a research note on Wednesday, April 17th. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, August 9th.
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.
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