As stated by Zacks, CNB Financial Co. (NASDAQ: CCNE) is said to have disclosed information regarding a quarterly dividend in an announcement on Tuesday, August 9th. On Thursday, September 1st, the bank will deliver a dividend to shareholders of 0.175 cents per share to those who held their shares on the previous business day. This dividend will only be distributed to shareholders who held their shares on the previous business day. This equates to an annual dividend payout of $0.70 and a dividend yield of 2.64% for the investment. The ex-dividend day for this payout is scheduled for Wednesday, August 30th, the following week. CNB Financial increased the amount of money it paid out as a dividend each of the three years before the most recent one by an annual average of 0.7%. The company has continued this pattern throughout the most recent year. CNB Financial’s payout ratio of 18.1% demonstrates that the company generates enough revenue to support its dividend payment using those profits adequately. For CNB Financial to be in a position to pay its annual dividend payment of $0.70, it is projected that the company will have sufficient profits per share of $3.69 and a payout ratio of 19.0% in the upcoming year. Beginning for $26.50 on Tuesday, trading on the NASDAQ CCNE got underway.
All of the financial ratios, including the debt-to-equity ratio, the current ratio, and the quick ratio, add up to 0.29, and they all add up to 0.89 as well. During the last year, CNB Financial reached its all-time high of $28.59 and its all-time low of $23.00. The company’s moving average price over the past 50 days is $25.52, and its moving average price over the previous 200 days is $25.58. The company has a price-to-earnings ratio of 8.01, and its beta value is 0.87. The company’s market value is currently estimated to be $446.79 million. CNB Financial (NASDAQ: CCNE) disseminated the findings of its most recent quarterly earnings report on Tuesday, July 19th. The financial institution reported earnings per share for the quarter of $0.85, which was $0.05 more than the consensus estimate of $0.80. The revenue for the quarter came in at $54.45 million, which was better than the analysts’ prediction of $52.05 million. The return on equity for CNB Financial was 16.07%, while the net margin for the company was 27.01%. According to forecasts made by analysts, CNB Financial is predicted to have earnings of $3.48 per share for the current fiscal year. This is the company’s earnings expectation for the current fiscal year. Institutional investors have been active buyers and sellers of company stock in several recent transactions affecting the company’s equity. At the end of the year’s second quarter, Millennium Management LLC spent close to 867 thousand dollars to acquire a new stake in CNB Financial, bringing the total cost of the transaction to roughly 867 thousand dollars. A financial investment for $505,000 in CNB Financial by Panagora Asset Management Inc. during the first three months of the year. Dimensional Fund Advisors LP boosted the proportion of CNB Financial shares it held by 3.0% over the first three months of 2018.
Dimensional Fund Advisors LP now directly owns a total of 633,297 shares of the company’s stock, which has a value of $16,669,000 after purchasing an additional 18,369 shares of the bank’s stock during the most recent quarter. This brings the total number of shares directly owned by the firm to 633,297. In the first three months of the year, Wellington Management Group LLP increased its existing holdings in CNB Financial by purchasing an additional 2.9% of the company’s shares. After making an additional purchase of 15,400 shares during the most recent quarter, Wellington Management Group LLP now has 549,201 shares of the bank’s stock, collectively worth $14,454,000. This brings the firm’s total number of shares to 549,201. Last but not least, American Century Companies Inc. increased its holdings of CNB Financial shares by 27.0 percent during the first three months of this year. American Century Companies Inc. now holds 68,669 shares of the bank’s stock, valued at $1,807,000, following purchasing an additional 14,617 shares during the quarter. This brings the total number of shares owned by the company to 68,669. At this very moment, institutional investors are the owners of 42.78 percent of all of the shares that are now outstanding. In other events, a research note published by Bloomberg on August 24th elevated the shares of CNB Financial from a “buy” rating to a “strong-buy” recommendation. This news came as part of separate development. “Buy” was the initial rating assigned to the rating.
CNB Financial Corporation is the parent company of CNB Bank, which provides a wide range of financial goods and services to people, corporations, governments, and other organizations. CNB Financial Corporation is an acronym for Canadian National Bank Financial Corporation. These consumers are dispersed all over the world in various countries. The company offers a wide variety of specialized financial services, including mortgages, business, industrial, residential, and consumer loans, checking accounts, savings accounts, and time deposits, among other products and services. The website of the company provides access to these various services.