CNB Financial Corporation Plans Quarterly Dividend of $0.18 (NASDAQ:CCNE)

CNB Financial Corporation (NASDAQ:CCNE) announced a quarterly dividend on Wednesday, August 13th, Wall Street Journal reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.18 per share by the bank on Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, August 29th.

CNB Financial has a dividend payout ratio of 21.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect CNB Financial to earn $3.53 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 20.4%.

CNB Financial Price Performance

NASDAQ:CCNE opened at $24.85 on Thursday. The firm has a market capitalization of $521.35 million, a price-to-earnings ratio of 10.44 and a beta of 0.68. CNB Financial has a 1 year low of $19.32 and a 1 year high of $29.29. The business has a 50 day simple moving average of $23.08 and a 200-day simple moving average of $23.08. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.94 and a quick ratio of 0.92.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. CNB Financial had a return on equity of 9.79% and a net margin of 14.56%. The firm had revenue of $61.80 million for the quarter, compared to the consensus estimate of $49.97 million. Equities analysts forecast that CNB Financial will post 2.04 EPS for the current year.

Institutional Trading of CNB Financial

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CNB Financial by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,725 shares of the bank’s stock worth $291,000 after acquiring an additional 437 shares during the period. First Trust Advisors LP lifted its position in CNB Financial by 6.1% during the 2nd quarter. First Trust Advisors LP now owns 13,389 shares of the bank’s stock worth $306,000 after acquiring an additional 765 shares during the period. Blair William & Co. IL lifted its position in CNB Financial by 11.9% during the 1st quarter. Blair William & Co. IL now owns 9,508 shares of the bank’s stock worth $212,000 after acquiring an additional 1,008 shares during the period. Rhumbline Advisers lifted its position in CNB Financial by 5.3% during the 2nd quarter. Rhumbline Advisers now owns 31,828 shares of the bank’s stock worth $728,000 after acquiring an additional 1,590 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in CNB Financial by 618.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the bank’s stock worth $52,000 after acquiring an additional 1,807 shares during the period. Institutional investors and hedge funds own 52.35% of the company’s stock.

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.