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

CNB Financial Co. (NASDAQ:CCNE) announced a quarterly dividend on Tuesday, November 12th,Wall Street Journal reports. Investors of record on Friday, November 29th will be paid a dividend of 0.18 per share by the bank on Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Friday, November 29th.

CNB Financial has increased its dividend payment by an average of 1.0% annually over the last three years. CNB Financial has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect CNB Financial to earn $2.50 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 28.8%.

CNB Financial Stock Performance

Shares of NASDAQ:CCNE opened at $28.22 on Thursday. The firm’s 50 day simple moving average is $25.48 and its 200-day simple moving average is $23.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. CNB Financial has a one year low of $17.74 and a one year high of $29.29. The firm has a market cap of $592.34 million, a PE ratio of 12.07 and a beta of 0.68.

CNB Financial (NASDAQ:CCNE) last posted its earnings results on Monday, October 21st. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. The company had revenue of $94.21 million for the quarter, compared to analyst estimates of $55.40 million. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%. As a group, equities analysts predict that CNB Financial will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th.

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.