CNB Financial Corporation (NASDAQ:CCNE) Raises Dividend to $0.19 Per Share

CNB Financial Corporation (NASDAQ:CCNE) declared a quarterly dividend on Tuesday, February 10th. Stockholders of record on Friday, February 27th will be paid a dividend of 0.19 per share by the bank on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 27th. This is a 5.6% increase from CNB Financial’s previous quarterly dividend of $0.18.

CNB Financial has increased its dividend 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 Price Performance

Shares of CCNE stock traded up $1.18 during trading hours on Wednesday, hitting $29.91. The stock had a trading volume of 311,656 shares, compared to its average volume of 150,925. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $881.60 million, a price-to-earnings ratio of 12.31 and a beta of 0.73. CNB Financial has a one year low of $19.32 and a one year high of $30.84. The stock’s 50-day moving average price is $27.19 and its two-hundred day moving average price is $25.63.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Tuesday, January 27th. The bank reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.10. The business had revenue of $87.16 million during the quarter, compared to analysts’ expectations of $73.10 million. CNB Financial had a return on equity of 11.83% and a net margin of 15.29%. Equities analysts forecast that CNB Financial will post 2.04 EPS for the current year.

About CNB Financial

CNB Financial Corporation (NASDAQ: CCNE) is a bank holding company headquartered in Clearfield, Pennsylvania. The company operates through its wholly owned subsidiary, CNB Bank & Trust, providing a full suite of community banking services. With a focus on relationship-driven banking, CNB Financial seeks to serve individuals, small businesses and agricultural clients across central Pennsylvania.

The company’s core offerings include deposit products such as checking accounts, savings accounts, money market accounts and certificates of deposit.