CNB Financial (NASDAQ:CCNE – Get Free Report) issued its quarterly earnings results on Thursday. The bank reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05, FiscalAI reports. CNB Financial had a return on equity of 12.14% and a net margin of 17.62%.
CNB Financial Stock Up 0.6%
Shares of CCNE stock traded up $0.19 during mid-day trading on Thursday, hitting $33.92. 142,327 shares of the stock traded hands, compared to its average volume of 159,500. CNB Financial has a 52-week low of $21.63 and a 52-week high of $35.24. The stock has a market cap of $1.00 billion, a P/E ratio of 12.07 and a beta of 0.63. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average is $32.32 and its two-hundred day moving average is $30.01.
CNB Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.76 dividend on an annualized basis and a yield of 2.2%. CNB Financial’s dividend payout ratio (DPR) is presently 27.05%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Analysis on CNB Financial
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its position in CNB Financial by 46.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,995 shares of the bank’s stock worth $46,000 after acquiring an additional 636 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of CNB Financial by 16,173.3% in the third quarter. Russell Investments Group Ltd. now owns 2,441 shares of the bank’s stock valued at $59,000 after purchasing an additional 2,426 shares during the period. Legal & General Group Plc increased its holdings in shares of CNB Financial by 35.5% in the third quarter. Legal & General Group Plc now owns 2,590 shares of the bank’s stock valued at $63,000 after purchasing an additional 679 shares during the period. Quantbot Technologies LP purchased a new position in shares of CNB Financial in the third quarter worth about $90,000. Finally, BNP Paribas Financial Markets raised its stake in shares of CNB Financial by 158.3% in the third quarter. BNP Paribas Financial Markets now owns 6,392 shares of the bank’s stock worth $155,000 after purchasing an additional 3,917 shares during the last quarter. 52.35% of the stock is currently owned by hedge funds and other institutional investors.
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.
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