CNB Financial (NASDAQ:CCNE) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CNB Financial (NASDAQ:CCNE) announced its earnings results on Monday. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04, Zacks reports. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%.

CNB Financial Trading Up 1.6 %

Shares of CCNE traded up $0.32 during trading hours on Monday, hitting $20.94. The company had a trading volume of 112,780 shares, compared to its average volume of 57,906. The firm has a market cap of $439.32 million, a P/E ratio of 8.80 and a beta of 0.53. CNB Financial has a 52-week low of $17.74 and a 52-week high of $29.29. The stock’s 50 day moving average price is $23.53 and its 200 day moving average price is $24.90. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.18 per share. The ex-dividend date was Friday, February 28th. This represents a $0.72 annualized dividend and a yield of 3.44%. CNB Financial’s payout ratio is 30.25%.

Wall Street Analyst Weigh In

CCNE has been the topic of a number of research reports. StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Stephens assumed coverage on CNB Financial in a research note on Monday. They set an “overweight” rating and a $26.50 price target for the company. Finally, Keefe, Bruyette & Woods lowered their price objective on CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th.

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.