CNB Financial Co. (CCNE) To Go Ex-Dividend on February 28th

CNB Financial Co. (NASDAQ:CCNE) declared a quarterly dividend on Tuesday, February 11th, Wall Street Journal reports. Stockholders of record on Friday, February 28th will be given a dividend of 0.18 per share by the bank on Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, February 28th.

CNB Financial has raised its dividend payment by an average of 1.2% annually over the last three years. CNB Financial has a payout ratio of 20.4% 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 Stock Performance

NASDAQ:CCNE opened at $24.96 on Wednesday. The company has a fifty day moving average of $25.12 and a 200-day moving average of $25.21. CNB Financial has a twelve month low of $17.74 and a twelve month high of $29.29. The firm has a market capitalization of $524.01 million, a P/E ratio of 10.49 and a beta of 0.71. 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 Tuesday, January 28th. The bank reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%. As a group, sell-side analysts anticipate that CNB Financial will post 2.04 EPS for the current year.

Wall Street Analyst Weigh In

CCNE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. StockNews.com downgraded 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.