CNB Financial Corporation (CCNE) to Issue Quarterly Dividend of $0.18 on December 12th

CNB Financial Corporation (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, November 12th. Investors of record on Friday, November 28th will be given a dividend of 0.18 per share by the bank on Friday, December 12th. This represents a c) dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 28th.

CNB Financial has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. CNB Financial has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.2%

NASDAQ:CCNE opened at $25.00 on Friday. The company has a market cap of $736.90 million, a P/E ratio of 10.50 and a beta of 0.76. The stock’s fifty day moving average price is $24.79 and its two-hundred day moving average price is $23.83. CNB Financial has a 1 year low of $19.32 and a 1 year high of $29.00. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.94 and a quick ratio of 0.94.

CNB Financial (NASDAQ:CCNE) last announced its quarterly earnings results on Thursday, October 30th. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $77.70 million during the quarter, compared to analysts’ expectations of $68.50 million. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. As a group, analysts expect that CNB Financial will post 2.04 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCNE. Janney Montgomery Scott upgraded shares of CNB Financial to a “strong-buy” rating in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods raised their price target on shares of CNB Financial from $26.00 to $29.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of CNB Financial in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.75.

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.