CNB Financial (NASDAQ:CCNE) Announces Earnings Results, Beats Expectations By $0.04 EPS

CNB Financial (NASDAQ:CCNE) released its earnings results on Monday. The bank reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04, Yahoo Finance reports. The company had revenue of $94.21 million during the quarter, compared to analysts’ expectations of $55.40 million. CNB Financial had a net margin of 15.30% and a return on equity of 10.37%.

CNB Financial Price Performance

CCNE traded up $0.99 on Tuesday, hitting $24.80. 3,808 shares of the company’s stock were exchanged, compared to its average volume of 45,165. CNB Financial has a fifty-two week low of $17.45 and a fifty-two week high of $26.87. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $23.70 and a 200-day moving average price of $21.62. The stock has a market cap of $520.90 million, a price-to-earnings ratio of 10.24 and a beta of 0.69.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.18 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 2.90%. This is a boost from CNB Financial’s previous quarterly dividend of $0.18. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of CNB Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st.

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.