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

CNB Financial (NASDAQ:CCNE) issued its quarterly earnings results on Monday. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04, Zacks reports. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%.

CNB Financial Price Performance

CCNE traded up $0.32 on Monday, reaching $20.94. The stock had a trading volume of 112,780 shares, compared to its average volume of 57,906. The firm has a 50-day moving average of $23.53 and a 200-day moving average of $24.90. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. CNB Financial has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The company has a market capitalization of $439.32 million, a price-to-earnings ratio of 8.80 and a beta of 0.53.

CNB Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.18 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 3.44%. CNB Financial’s dividend payout ratio is currently 30.25%.

Analysts Set New Price Targets

Several research firms have commented on CCNE. Keefe, Bruyette & Woods decreased 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 report on Monday, January 13th. Stephens assumed coverage on shares of CNB Financial in a research report on Monday. They set an “overweight” rating and a $26.50 price objective for the company. Finally, StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th.

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.