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

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 payment by an average of 1.2% annually over the last three years. CNB Financial has a payout ratio of 20.4% indicating that 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 %

Shares of NASDAQ CCNE opened at $26.23 on Thursday. The firm has a market cap of $550.57 million, a PE ratio of 11.02 and a beta of 0.71. The company has a 50 day simple moving average of $25.42 and a 200 day simple 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 1 year low of $17.74 and a 1 year high of $29.29.

CNB Financial (NASDAQ:CCNE) last announced its earnings results on Tuesday, January 28th. The bank reported $0.66 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, research analysts forecast that CNB Financial will post 2.04 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CCNE shares. StockNews.com upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lowered their target price on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report 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.