CNB Financial Co. (NASDAQ:CCNE) Plans Quarterly Dividend of $0.18

CNB Financial Co. (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, May 14th, Wall Street Journal reports. Shareholders of record on Friday, May 30th will be paid a dividend of 0.18 per share by the bank on Friday, June 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Friday, May 30th.

CNB Financial has increased its dividend by an average of 1.2% per year over the last three years and has increased its dividend every year for the last 1 years. CNB Financial has a payout ratio of 21.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 1.8%

Shares of CNB Financial stock opened at $22.83 on Thursday. The firm has a market cap of $478.95 million, a price-to-earnings ratio of 9.59 and a beta of 0.64. CNB Financial has a 52-week low of $18.60 and a 52-week high of $29.29. The company’s 50-day simple moving average is $22.01 and its 200-day simple moving average is $24.58. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19.

CNB Financial (NASDAQ:CCNE) last issued its earnings results on Monday, April 14th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. The business had revenue of $57.55 million during the quarter, compared to the consensus estimate of $54.05 million. As a group, equities research analysts anticipate that CNB Financial will post 2.04 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods cut their price target on shares of CNB Financial from $27.00 to $25.00 and set a “market perform” rating for the company in a report on Wednesday, April 16th. Stephens assumed coverage on shares of CNB Financial in a research report on Monday, April 14th. They set an “overweight” rating and a $26.50 price target for the company. Finally, StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th.

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.