CNB Financial Co. (CCNE) To Go Ex-Dividend on February 28th

CNB Financial Co. (NASDAQ:CCNE) announced a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.18 per share by the bank on Friday, March 14th. This represents a $0.72 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, February 28th.

CNB Financial has increased its dividend by an average of 1.2% per year over the last three years. CNB Financial has a payout ratio of 20.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect CNB Financial to earn $3.53 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 20.4%.

CNB Financial Trading Up 0.3 %

CNB Financial stock traded up $0.07 during mid-day trading on Thursday, hitting $26.30. 51,007 shares of the stock were exchanged, compared to its average volume of 102,269. The stock has a market capitalization of $552.04 million, a price-to-earnings ratio of 11.05 and a beta of 0.71. CNB Financial has a 12 month low of $17.74 and a 12 month high of $29.29. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $25.42 and its two-hundred day simple moving average is $25.07.

CNB Financial (NASDAQ:CCNE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. CNB Financial had a net margin of 14.97% and a return on equity of 10.24%. Analysts forecast that CNB Financial will post 2.04 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCNE. Keefe, Bruyette & Woods cut their target price on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. StockNews.com upgraded shares of CNB Financial from a “hold” rating to a “buy” rating in a report on Thursday, February 6th.

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.