CNB Financial (NASDAQ:CCNE) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CNB Financial (NASDAQ:CCNE) posted its earnings results on Monday. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04, Yahoo Finance reports. The business had revenue of $94.21 million for the quarter, compared to analysts’ expectations of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%.

CNB Financial Stock Up 6.5 %

Shares of CCNE opened at $25.35 on Wednesday. CNB Financial has a 52 week low of $17.45 and a 52 week high of $26.87. The firm has a market capitalization of $532.45 million, a P/E ratio of 10.65 and a beta of 0.69. The company has a 50-day simple moving average of $23.74 and a 200-day simple moving average of $21.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.18 dividend. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.84%. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

Separately, StockNews.com upgraded CNB Financial from a “hold” rating to a “buy” rating in a research report on Tuesday.

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.