CNB Financial Co. (NASDAQ:CCNE) Increases Dividend to $0.18 Per Share

CNB Financial Co. (NASDAQ:CCNE) 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.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Thursday, July 18th. The bank reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The firm had revenue of $89.52 million during the quarter, compared to analysts’ expectations of $55.30 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.47%. As a group, equities research analysts anticipate that CNB Financial will post 2.25 EPS for the current fiscal year.

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.