CNB Financial (NASDAQ:CCNE) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

CNB Financial (NASDAQ:CCNE) issued its earnings results on Tuesday. The bank reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05, Zacks reports. CNB Financial had a net margin of 14.90% and a return on equity of 10.13%.

CNB Financial Stock Up 0.9 %

Shares of NASDAQ:CCNE opened at $25.65 on Thursday. The business has a fifty day simple moving average of $25.87 and a 200 day simple moving average of $24.97. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29. The firm has a market cap of $538.39 million, a P/E ratio of 10.96 and a beta of 0.71. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19.

CNB Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.81%. CNB Financial’s payout ratio is 30.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on CCNE shares. Keefe, Bruyette & Woods dropped their price target on CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. StockNews.com lowered CNB Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th.

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.