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

CNB Financial Co. (NASDAQ:CCNE) declared 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 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, November 29th.

CNB Financial has increased its dividend payment by an average of 1.0% annually over the last three years. CNB Financial has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.4 %

CCNE stock opened at $28.26 on Wednesday. The company has a market capitalization of $593.18 million, a price-to-earnings ratio of 12.08 and a beta of 0.68. CNB Financial has a 1-year low of $17.74 and a 1-year high of $29.29. The business has a 50 day simple moving average of $25.40 and a two-hundred day simple moving average of $23.00. 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 (NASDAQ:CCNE) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $94.21 million for 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%. Research analysts anticipate that CNB Financial will post 2.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.