CNB Financial (NASDAQ:CCNE) Releases Earnings Results, Beats Estimates By $0.05 EPS

CNB Financial (NASDAQ:CCNE) posted its earnings results on Tuesday. The bank reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05, Zacks reports. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%.

CNB Financial Price Performance

Shares of CCNE traded down $0.17 during trading hours on Tuesday, reaching $25.42. 88,001 shares of the company traded hands, compared to its average volume of 105,165. The stock has a market capitalization of $533.57 million, a PE ratio of 10.86 and a beta of 0.71. CNB Financial has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $25.95 and a 200 day simple moving average of $24.94.

CNB Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.18 per share. The ex-dividend date was Friday, November 29th. This represents a $0.72 annualized dividend and a dividend yield of 2.83%. CNB Financial’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCNE. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price objective on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a 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.