CNB Financial Corp. to Issue Quarterly Dividend of $0.17 (ccne)
CNB Financial Corp. (NASDAQ:ccne) declared a quarterly dividend on Wednesday, November 9th. Shareholders of record on Thursday, December 1st will be paid a dividend of 0.165 per share on Thursday, December 15th. This represents a $0.66 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Tuesday, November 29th.
CNB Financial Corp. (NASDAQ:CCNE) opened at 23.94 on Thursday. The stock has a market cap of $343.80 million, a price-to-earnings ratio of 16.51 and a beta of 0.78. CNB Financial Corp. has a 52 week low of $16.51 and a 52 week high of $25.46. The firm’s 50-day moving average is $20.99 and its 200 day moving average is $19.37.
CNB Financial Corp. (NASDAQ:CCNE) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. CNB Financial Corp. had a return on equity of 10.05% and a net margin of 19.52%. On average, equities research analysts expect that CNB Financial Corp. will post $1.60 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in CCNE. Cornerstone Capital Management Holdings LLC. increased its position in shares of CNB Financial Corp. by 51.8% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 21,102 shares of the company’s stock valued at $445,000 after buying an additional 7,200 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of CNB Financial Corp. during the third quarter valued at $220,000. HighTower Advisors LLC increased its position in shares of CNB Financial Corp. by 50.9% in the third quarter. HighTower Advisors LLC now owns 16,228 shares of the company’s stock valued at $345,000 after buying an additional 5,477 shares during the last quarter. Morgan Stanley increased its position in shares of CNB Financial Corp. by 52.3% in the third quarter. Morgan Stanley now owns 12,435 shares of the company’s stock valued at $264,000 after buying an additional 4,272 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of CNB Financial Corp. by 5.1% in the third quarter. Northern Trust Corp now owns 161,390 shares of the company’s stock valued at $3,415,000 after buying an additional 7,851 shares during the last quarter. 34.47% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research raised CNB Financial Corp. from a “sell” rating to a “hold” rating in a research note on Friday, August 19th.
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CNB Financial Corp. Company Profile
CNB Financial Corporation is a financial holding company. The Company provides a range of banking and related services through its subsidiary, CNB Bank (the Bank). In addition, the Bank provides trust and asset management services, including the administration of trusts and estates, retirement plans and other employee benefit plans, as well as a range of wealth management services.
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