CNB Financial Corporation to Issue Quarterly Dividend of $0.17 (CCNE)
CNB Financial Corporation (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Shareholders of record on Friday, September 1st will be paid a dividend of 0.165 per share by the bank on Friday, September 15th. This represents a $0.66 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Wednesday, August 30th.
Shares of CNB Financial Corporation (NASDAQ CCNE) traded down 2.12% on Wednesday, reaching $24.99. 19,154 shares of the company’s stock were exchanged. The firm has a market capitalization of $380.00 million, a P/E ratio of 15.04 and a beta of 0.84. The firm has a 50 day moving average of $24.61 and a 200 day moving average of $24.10. CNB Financial Corporation has a one year low of $18.01 and a one year high of $28.43.
CNB Financial Corporation (NASDAQ:CCNE) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.12. The company had revenue of $28.08 million for the quarter, compared to analysts’ expectations of $27.14 million. CNB Financial Corporation had a net margin of 20.21% and a return on equity of 10.92%. On average, equities research analysts predict that CNB Financial Corporation will post $1.60 EPS for the current year.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of CNB Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of CNB Financial Corporation from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Monday, July 24th.
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In other news, Director Dennis L. Merrey sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $26.56, for a total transaction of $53,120.00. Following the transaction, the director now directly owns 49,570 shares of the company’s stock, valued at approximately $1,316,579.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.
About CNB Financial Corporation
CNB Financial Corporation is a financial holding company. The Company is the holding company of CNB Bank (the Bank); CNB Securities Corporation, which maintains investments in debt and equity securities; CNB Insurance Agency, which provides for the sale of nonproprietary annuities and other insurance products, and Holiday Financial Services Corporation, which offers small balance unsecured loans and secured loans, primarily collateralized by automobiles and equipment.
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