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

CNB Financial Co. (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.18 per share by the bank on Friday, March 14th. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, February 28th.

CNB Financial has raised its dividend payment by an average of 1.2% per year over the last three years. CNB Financial has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNB Financial to earn $3.53 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 20.4%.

CNB Financial Trading Down 1.6 %

Shares of CCNE traded down $0.43 during mid-day trading on Wednesday, reaching $26.23. 115,107 shares of the company’s stock traded hands, compared to its average volume of 104,100. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The stock’s 50-day moving average is $25.45 and its two-hundred day moving average is $25.06. CNB Financial has a 12 month low of $17.74 and a 12 month high of $29.29. The stock has a market cap of $550.57 million, a P/E ratio of 11.02 and a beta of 0.71.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Research analysts forecast that CNB Financial will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCNE. StockNews.com raised CNB Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price objective on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Monday, January 13th.

About CNB Financial

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.