CNB Financial (NASDAQ:CCNE) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CNB Financial (NASDAQ:CCNE) posted 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 net margin of 14.97% and a return on equity of 10.24%.

CNB Financial Stock Performance

Shares of CNB Financial stock traded up $0.32 during trading hours on Monday, hitting $20.94. 112,780 shares of the company’s stock traded hands, compared to its average volume of 57,906. The stock has a market capitalization of $439.32 million, a price-to-earnings ratio of 8.80 and a beta of 0.53. CNB Financial has a 12-month low of $17.74 and a 12-month high of $29.29. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.95 and a quick ratio of 0.94. The company has a fifty day simple moving average of $23.53 and a 200-day simple moving average of $24.90.

CNB Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CCNE. Stephens began coverage on CNB Financial in a research note on Monday. They issued an “overweight” rating and a $26.50 price objective for the company. StockNews.com downgraded shares of CNB Financial from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Monday, January 13th.

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.