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

CNB Financial (NASDAQ:CCNE) posted its quarterly earnings data on Monday. The bank reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $55.40 million.

CNB Financial Stock Up 6.5 %

Shares of CNB Financial stock opened at $25.35 on Wednesday. The stock’s fifty day moving average is $23.80 and its 200-day moving average is $21.69. The firm has a market capitalization of $532.45 million, a PE ratio of 10.65 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.20. CNB Financial has a 12-month low of $17.45 and a 12-month high of $26.87.

CNB Financial Increases Dividend

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

Wall Street Analysts Forecast Growth

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

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.