CNB Financial (NASDAQ:CCNE) Announces Quarterly Earnings Results

CNB Financial (NASDAQ:CCNE) released its quarterly earnings data on Monday. The bank reported $0.61 earnings per share 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 analyst estimates of $55.40 million.

CNB Financial Stock Performance

Shares of CNB Financial stock opened at $25.47 on Thursday. The business’s fifty day simple moving average is $23.86 and its 200 day simple moving average is $21.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial has a 12 month low of $17.45 and a 12 month high of $26.87. The firm has a market capitalization of $534.97 million, a P/E ratio of 10.70 and a beta of 0.69.

CNB Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 2.83%. CNB Financial’s dividend payout ratio is currently 30.25%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded CNB Financial from a “hold” rating to a “buy” rating in a report on Tuesday.

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.