CNB Financial (NASDAQ:CCNE) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

CNB Financial (NASDAQ:CCNE) issued its quarterly earnings results on Tuesday. The bank reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05, Zacks reports. CNB Financial had a return on equity of 10.13% and a net margin of 14.90%.

CNB Financial Stock Down 0.7 %

CCNE stock traded down $0.17 during mid-day trading on Tuesday, reaching $25.42. 88,001 shares of the company traded hands, compared to its average volume of 105,165. The stock has a market cap of $533.57 million, a price-to-earnings ratio of 10.86 and a beta of 0.71. CNB Financial has a fifty-two week low of $17.74 and a fifty-two week high of $29.29. The firm’s 50 day moving average price is $25.95 and its 200 day moving average price is $24.94. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.19.

CNB Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.18 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 2.83%. CNB Financial’s payout ratio is 30.77%.

Analyst Ratings Changes

A number of brokerages have weighed in on CCNE. StockNews.com downgraded CNB Financial from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods dropped their price objective on shares of CNB Financial from $30.00 to $28.00 and set a “market perform” rating on the stock 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.