CNB Financial (NASDAQ:CCNE) Announces Quarterly Earnings Results

CNB Financial (NASDAQ:CCNE) posted its earnings results on Tuesday. The bank reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05, Zacks reports. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%.

CNB Financial Price Performance

CCNE stock opened at $25.42 on Wednesday. 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 52 week low of $17.74 and a 52 week high of $29.29. The firm’s fifty day moving average is $25.90 and its 200 day moving average is $24.97. The firm has a market cap of $533.57 million, a P/E ratio of 10.86 and a beta of 0.71.

CNB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, November 29th. CNB Financial’s dividend payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCNE. StockNews.com cut shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lowered their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report 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.