CNB Financial Corporation (NASDAQ:CCNE – Get Free Report) declared a quarterly dividend on Tuesday, November 10th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.19 per share by the bank on Tuesday, December 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, December 1st.
CNB Financial has a dividend payout ratio of 22.8% meaning its dividend is sufficiently covered by earnings. Analysts expect CNB Financial to earn $3.74 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 20.3%.
CNB Financial Price Performance
Shares of NASDAQ:CCNE opened at $35.85 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a fifty day moving average price of $34.55 and a 200 day moving average price of $32.05. CNB Financial has a fifty-two week low of $23.78 and a fifty-two week high of $37.70. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 9.43 and a beta of 0.61.
CNB Financial (NASDAQ:CCNE – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The bank reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $87.79 million for the quarter, compared to the consensus estimate of $87.76 million. CNB Financial had a net margin of 23.26% and a return on equity of 13.15%. As a group, sell-side analysts expect that CNB Financial will post 3.58 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in CNB Financial in the second quarter valued at approximately $78,011,000. Dimensional Fund Advisors LP boosted its position in shares of CNB Financial by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,505,993 shares of the bank’s stock worth $43,613,000 after purchasing an additional 27,236 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in CNB Financial by 1.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 292,073 shares of the bank’s stock worth $8,458,000 after buying an additional 3,123 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in CNB Financial during the 2nd quarter worth $7,667,000. Finally, Globeflex Capital L P acquired a new position in CNB Financial during the 2nd quarter valued at about $5,396,000. 52.35% of the stock is currently owned by hedge funds and other institutional investors.
CNB Financial Company Profile
CNB Financial Corporation is a bank holding company headquartered in Clearfield, Pennsylvania. Through its subsidiary, CNB Bank, it provides banking and related financial services to individuals, businesses and organizations. Its offerings include consumer and commercial deposit accounts, loans, mortgage services, cash management and other banking services. The company also provides wealth management and trust services through its financial services businesses. CNB Bank traces its roots to 1865 and serves communities across Pennsylvania, Ohio and New York.
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