CNB Financial (NASDAQ:CCNE) Releases Earnings Results

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

CNB Financial Stock Performance

CCNE stock opened at $25.35 on Wednesday. The business’s 50-day moving average price is $23.80 and its two-hundred day moving average price is $21.69. 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 market cap of $532.45 million, a PE ratio of 10.65 and a beta of 0.69. CNB Financial has a 1-year low of $17.45 and a 1-year high of $26.87.

CNB Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.18 dividend. This is a positive change from CNB Financial’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, August 30th. CNB Financial’s dividend payout ratio (DPR) is currently 30.25%.

Analysts Set New Price Targets

Separately, StockNews.com raised CNB Financial from a “hold” rating to a “buy” rating in a report on Tuesday.

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.