CNB Financial Corp Announces Quarterly Dividend of $0.17 (CCNE)

Share on StockTwits

CNB Financial Corp (NASDAQ:CCNE) announced a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.17 per share by the bank on Friday, June 14th. This represents a $0.68 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, May 30th.

CNB Financial has increased its dividend by an average of 0.5% per year over the last three years. CNB Financial has a dividend payout ratio of 31.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CNB Financial to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 25.0%.

Shares of NASDAQ CCNE traded down $0.26 during midday trading on Wednesday, hitting $26.99. 18,866 shares of the stock traded hands, compared to its average volume of 16,661. The stock has a market capitalization of $405.06 million, a price-to-earnings ratio of 12.14 and a beta of 0.83. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.96 and a quick ratio of 0.96. CNB Financial has a one year low of $21.43 and a one year high of $32.86.

CNB Financial (NASDAQ:CCNE) last released its quarterly earnings results on Monday, April 15th. The bank reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.06. The firm had revenue of $33.91 million for the quarter, compared to analysts’ expectations of $33.38 million. CNB Financial had a return on equity of 13.85% and a net margin of 22.37%. Equities research analysts anticipate that CNB Financial will post 2.43 EPS for the current year.

Several research firms have recently weighed in on CCNE. Zacks Investment Research raised CNB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. BidaskClub cut CNB Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. ValuEngine raised CNB Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Finally, Boenning Scattergood reissued a “buy” rating and set a $31.00 price target on shares of CNB Financial in a report on Tuesday, April 16th.

An institutional investor recently raised its position in CNB Financial stock. Geode Capital Management LLC increased its stake in CNB Financial Corp (NASDAQ:CCNE) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 146,032 shares of the bank’s stock after purchasing an additional 8,090 shares during the quarter. Geode Capital Management LLC owned approximately 0.96% of CNB Financial worth $3,351,000 at the end of the most recent quarter. 43.56% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This piece was first published by Fairfield Current and is the sole property of of Fairfield Current. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.fairfieldcurrent.com/news/2019/05/15/cnb-financial-corp-announces-quarterly-dividend-of-0-17-ccne.html.

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.

See Also: Are 12b-1 Fees Affecting Your Mutual Fund Performance?

Dividend History for CNB Financial (NASDAQ:CCNE)

Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply