CNB Financial (NASDAQ:CCNE) Announces Quarterly Earnings Results

CNB Financial (NASDAQ:CCNE) announced its quarterly earnings results on Monday. The bank reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04, Yahoo Finance reports. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%. The firm had revenue of $94.21 million for the quarter, compared to the consensus estimate of $55.40 million.

CNB Financial Price Performance

Shares of NASDAQ CCNE traded up $0.56 during midday trading on Tuesday, reaching $24.37. The stock had a trading volume of 2,817 shares, compared to its average volume of 45,159. The company has a market capitalization of $511.87 million, a price-to-earnings ratio of 10.24 and a beta of 0.69. CNB Financial has a 12-month low of $17.45 and a 12-month high of $26.87. The stock has a 50-day moving average of $23.70 and a 200-day moving average of $21.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.94 and a current ratio of 0.94.

CNB Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.18 dividend. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st.

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.