CNB Financial Corp (NASDAQ:CCNE) declared a quarterly dividend on Wednesday, May 15th, Wall Street Journal reports. Investors of record on Friday, May 31st will be given a dividend of 0.17 per share by the bank on Friday, June 14th. This represents a $0.68 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, May 30th.

CNB Financial has raised its dividend by an average of 0.5% per year over the last three years. CNB Financial has a dividend payout ratio of 31.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect CNB Financial to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 25.0%.

NASDAQ CCNE opened at $27.25 on Thursday. CNB Financial has a twelve month low of $21.43 and a twelve month high of $32.86. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.19. The stock has a market cap of $405.06 million, a P/E ratio of 12.33 and a beta of 0.83.

CNB Financial (NASDAQ:CCNE) last posted its quarterly earnings data on Monday, April 15th. The bank reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. CNB Financial had a return on equity of 13.85% and a net margin of 22.37%. The business had revenue of $33.91 million during the quarter, compared to analysts’ expectations of $33.38 million. As a group, analysts expect that CNB Financial will post 2.43 EPS for the current year.

Several research firms recently weighed in on CCNE. Zacks Investment Research raised CNB Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th. BidaskClub upgraded CNB Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. ValuEngine upgraded CNB Financial from a “sell” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Boenning Scattergood restated a “buy” rating and set a $31.00 price target on shares of CNB Financial in a research note on Tuesday, April 16th.

An institutional investor recently raised its position in CNB Financial stock. Geode Capital Management LLC boosted its position in shares of CNB Financial Corp (NASDAQ:CCNE) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,032 shares of the bank’s stock after acquiring an additional 8,090 shares during the period. Geode Capital Management LLC owned approximately 0.96% of CNB Financial worth $3,351,000 at the end of the most recent quarter. 43.56% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Read More: Understanding Analyst Recommendations

Dividend History for CNB Financial (NASDAQ:CCNE)

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