CNB Financial Co. (NASDAQ:CCNE) Plans Quarterly Dividend of $0.18

CNB Financial Co. (NASDAQ:CCNEGet 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.

CNB Financial (NASDAQ:CCNEGet Rating) last announced its quarterly earnings data on Monday, April 18th. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $52.27 million for the quarter, compared to analyst estimates of $50.22 million. CNB Financial had a return on equity of 15.62% and a net margin of 27.16%. Analysts anticipate that CNB Financial will post 3.31 earnings per share for the current fiscal year.

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.

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Dividend History for CNB Financial (NASDAQ:CCNE)

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