CNB Financial Co. (NASDAQ:CCNE – Get Free Report) declared a quarterly dividend on Tuesday, August 13th, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 0.18 per share by the bank on Friday, September 13th. This represents a $0.72 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Friday, August 30th. This is an increase from CNB Financial’s previous quarterly dividend of $0.18.
CNB Financial has increased its dividend by an average of 1.0% per year over the last three years. CNB Financial has a dividend payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CNB Financial to earn $2.50 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 28.0%.
CNB Financial Trading Up 2.1 %
CCNE traded up $0.46 during trading hours on Thursday, reaching $22.74. 6,071 shares of the company’s stock traded hands, compared to its average volume of 46,326. The firm has a 50-day moving average price of $21.50 and a 200 day moving average price of $20.46. CNB Financial has a 52-week low of $17.45 and a 52-week high of $26.87. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $477.63 million, a PE ratio of 9.36 and a beta of 0.70.
Analyst Ratings Changes
Several brokerages have weighed in on CCNE. StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods lowered their target price on CNB Financial from $23.00 to $22.00 and set a “market perform” rating for the company in a report on Wednesday, April 17th.
View Our Latest Stock Analysis on CCNE
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.
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