CNB Financial Co. (NASDAQ:CCNE – Get Rating) declared a quarterly dividend on Tuesday, May 17th, Zacks reports. Investors of record on Wednesday, June 1st will be paid a dividend of 0.175 per share by the bank on Wednesday, June 15th. This represents a $0.70 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, May 31st.
CNB Financial has increased its dividend payment by an average of 0.7% per year over the last three years and has raised its dividend every year for the last 1 years. CNB Financial has a payout ratio of 18.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CNB Financial to earn $3.63 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 19.3%.
Shares of NASDAQ CCNE opened at $24.98 on Friday. The firm’s 50 day simple moving average is $25.51 and its 200-day simple moving average is $26.42. CNB Financial has a 12 month low of $22.08 and a 12 month high of $28.59. The stock has a market capitalization of $421.16 million, a price-to-earnings ratio of 7.76 and a beta of 0.90. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.88 and a quick ratio of 0.88.
In other news, Director Joel E. Peterson acquired 4,507 shares of the company’s stock in a transaction dated Monday, March 7th. The shares were bought at an average price of $25.79 per share, with a total value of $116,235.53. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michael D. Peduzzi acquired 2,500 shares of CNB Financial stock in a transaction that occurred on Thursday, March 3rd. The shares were purchased at an average cost of $26.41 per share, with a total value of $66,025.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,055 shares of company stock valued at $263,111. 3.09% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG lifted its holdings in CNB Financial by 5.6% during the 4th quarter. Deutsche Bank AG now owns 9,765 shares of the bank’s stock worth $259,000 after buying an additional 520 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of CNB Financial by 9.8% in the 1st quarter. First Trust Advisors LP now owns 8,605 shares of the bank’s stock valued at $226,000 after purchasing an additional 766 shares during the period. Royal Bank of Canada lifted its stake in shares of CNB Financial by 7.4% in the 3rd quarter. Royal Bank of Canada now owns 11,419 shares of the bank’s stock valued at $278,000 after purchasing an additional 785 shares during the period. LPL Financial LLC increased its position in shares of CNB Financial by 2.9% in the 4th quarter. LPL Financial LLC now owns 33,124 shares of the bank’s stock valued at $878,000 after buying an additional 947 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CNB Financial by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,334 shares of the bank’s stock valued at $1,141,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 42.24% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of CNB Financial from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday. StockNews.com downgraded CNB Financial from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 21st.
CNB Financial Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on CNB Financial (CCNE)
- These Are the Three (3) Most Upgraded Stocks For Q2
- MarketBeat: Week in Review 5/23 – 5/27
- Short Sellers Provide Entry Into Hibbet, Inc At Rock Bottom Prices
- Affirm Stock Has Affirmed a Bottom
- Airbnb: Bold Competitive Threats & A New World of Travel
Receive News & Ratings for CNB Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CNB Financial and related companies with MarketBeat.com's FREE daily email newsletter.