CNB Financial (NASDAQ:CCNE) Announces Earnings Results, Beats Estimates By $0.04 EPS

CNB Financial (NASDAQ:CCNE) released its earnings results on Monday. The bank reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04, Zacks reports. CNB Financial had a return on equity of 10.24% and a net margin of 14.97%.

CNB Financial Stock Up 1.6 %

CNB Financial stock traded up $0.32 during mid-day trading on Monday, reaching $20.94. 112,780 shares of the company were exchanged, compared to its average volume of 87,377. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 0.95. The firm has a market cap of $439.32 million, a P/E ratio of 8.80 and a beta of 0.53. The business has a fifty day moving average of $23.53 and a 200 day moving average of $24.90. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29.

CNB Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Friday, February 28th. CNB Financial’s payout ratio is 30.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stephens initiated coverage on shares of CNB Financial in a report on Monday. They issued an “overweight” rating and a $26.50 price target on the stock. Keefe, Bruyette & Woods dropped their target price on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a research note on Friday, February 14th.

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.