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

CNB Financial Co. (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, February 12th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid 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 dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, February 28th.

CNB Financial has raised its dividend by an average of 1.2% annually over the last three years. CNB Financial has a dividend payout ratio of 20.4% meaning its dividend is sufficiently covered by earnings. Equities 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 %

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

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings data on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, beating 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, equities analysts forecast that CNB Financial will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded CNB Financial from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Keefe, Bruyette & Woods cut their price target on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th.

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.