CNB Financial (NASDAQ:CCNE) Releases Earnings Results, Beats Expectations By $0.05 EPS

CNB Financial (NASDAQ:CCNE) announced its quarterly earnings results on Thursday. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05, Yahoo Finance reports. CNB Financial had a net margin of 15.96% and a return on equity of 10.73%.

CNB Financial Stock Up 2.6 %

Shares of NASDAQ:CCNE traded up $0.62 during trading on Friday, hitting $24.18. 50 shares of the company were exchanged, compared to its average volume of 45,870. The firm has a fifty day moving average price of $19.94 and a two-hundred day moving average price of $20.19. CNB Financial has a fifty-two week low of $17.45 and a fifty-two week high of $24.43. The stock has a market cap of $507.78 million, a price-to-earnings ratio of 9.90 and a beta of 0.71. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.20.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a dividend of $0.175 per share. The ex-dividend date was Friday, May 31st. This represents a $0.70 annualized dividend and a yield of 2.89%. CNB Financial’s dividend payout ratio (DPR) is presently 29.41%.

Wall Street Analysts Forecast Growth

CCNE has been the topic of several recent analyst reports. StockNews.com cut CNB Financial from a “buy” rating to a “hold” rating in a report on Friday. 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.

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.