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

CNB Financial Co. (NASDAQ:CCNE) announced a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, February 28th.

CNB Financial has increased 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% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Down 1.6 %

Shares of NASDAQ:CCNE opened at $26.23 on Thursday. The company has a 50 day moving average of $25.42 and a 200-day moving average of $25.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. CNB Financial has a one year low of $17.74 and a one year high of $29.29. The stock has a market cap of $550.57 million, a price-to-earnings ratio of 11.02 and a beta of 0.71.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Tuesday, January 28th. The bank reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. On average, sell-side analysts forecast that CNB Financial will post 2.04 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCNE. StockNews.com upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Keefe, Bruyette & Woods decreased their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research note 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.