CNB Financial Corporation announces a quarterly cash dividend of $0.4453125 per share, payable February 28, 2025.
Quiver AI Summary
CNB Financial Corporation has declared a quarterly cash dividend of $0.4453125 per depositary share, following the declaration of a quarterly cash dividend of $17.8125 per share on its Series A Preferred Stock. This dividend is set to be paid on February 28, 2025, to shareholders on record as of February 14, 2025. The corporation, which has consolidated assets of approximately $6.2 billion, primarily operates through CNB Bank, a full-service bank that offers a wide range of banking services to various customers, including individuals and businesses. CNB Bank has multiple offices across Pennsylvania, Ohio, New York, and Virginia, and operates under several brand names, including ERIEBANK and FCBank. Further information about CNB Financial Corporation can be found on its website.
Potential Positives
- CNB Financial Corporation has declared a quarterly cash dividend of $0.4453125 per depositary share, reflecting the company’s commitment to returning value to its shareholders.
- The dividend payment indicates the company's ongoing financial health and stability, as it is able to distribute profits to its investors.
- The company has a substantial consolidated asset base of approximately $6.2 billion, showcasing its strong position in the financial market.
- CNB Bank's diverse banking services and multi-brand divisions indicate a broad market reach, enhancing its competitive advantage in the regions it operates.
Potential Negatives
- The declaration of a cash dividend may indicate a lack of reinvestment in growth opportunities, which could be interpreted as a sign of stagnation or limited growth prospects.
- The timing of the dividend payment, which is set for February 28, 2025, might suggest that the company is attempting to provide short-term returns to shareholders amidst potential long-term challenges.
- Despite their broad range of services, the company operates primarily in regions that may be economically challenged, raising concerns about the sustainability of its financial performance.
FAQ
What is the dividend amount declared by CNB Financial Corporation?
CNB Financial Corporation has declared a quarterly cash dividend of $0.4453125 per depositary share.
When will the dividend be payable?
The dividend is payable on February 28, 2025, to holders of record as of February 14, 2025.
What is the primary business of CNB Financial Corporation?
CNB Financial Corporation operates primarily through its subsidiary, CNB Bank, providing a full range of banking services.
How many offices does CNB Bank operate?
CNB Bank has 55 full-service offices across Pennsylvania, Ohio, New York, and Virginia.
What divisions operate under CNB Bank?
CNB Bank includes divisions like ERIEBANK, FCBank, BankOnBuffalo, Ridge View Bank, and Impressia Bank.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$CCNE Hedge Fund Activity
We have seen 55 institutional investors add shares of $CCNE stock to their portfolio, and 32 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 203,397 shares (-18.5%) from their portfolio in Q3 2024, for an estimated $4,893,731
- MALTESE CAPITAL MANAGEMENT LLC added 87,000 shares (+263.6%) to their portfolio in Q3 2024, for an estimated $2,093,220
- ROYCE & ASSOCIATES LP removed 78,192 shares (-16.8%) from their portfolio in Q3 2024, for an estimated $1,881,299
- MORGAN STANLEY added 56,812 shares (+48.3%) to their portfolio in Q3 2024, for an estimated $1,366,896
- BLACKROCK, INC. added 54,727 shares (+3.3%) to their portfolio in Q3 2024, for an estimated $1,316,731
- PEKIN HARDY STRAUSS, INC. removed 47,425 shares (-18.6%) from their portfolio in Q3 2024, for an estimated $1,141,045
- MILLENNIUM MANAGEMENT LLC added 45,556 shares (+inf%) to their portfolio in Q3 2024, for an estimated $1,096,077
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CLEARFIELD, Pa., Jan. 30, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of CNB Financial Corporation (Nasdaq: CCNE) (the "Corporation") has announced the declaration of a quarterly cash dividend of $0.4453125 per depositary share (Nasdaq: CCNEP), resulting from the Corporation’s declaration of a quarterly cash dividend of $17.8125 per share on its Series A Preferred Stock. The dividend is payable on February 28, 2025, to holders of record as of February 14, 2025.
CNB Financial Corporation is a financial holding company with consolidated assets of approximately $6.2 billion. CNB Financial Corporation conducts business primarily through its principal subsidiary, CNB Bank. CNB Bank is a full-service bank engaging in a full range of banking activities and services, including trust and wealth management services, for individual, business, governmental, and institutional customers. CNB Bank operations include a private banking division, one drive-up office, one mobile office, and 55 full-service offices in Pennsylvania, Ohio, New York, and Virginia. CNB Bank, headquartered in Clearfield, Pennsylvania, with offices in Central and North Central Pennsylvania, serves as the multi-brand parent to various divisions. These divisions include ERIEBANK, based in Erie, Pennsylvania, with offices in Northwest Pennsylvania and Northeast Ohio; FCBank, based in Worthington, Ohio, with offices in Central Ohio; BankOnBuffalo, based in Buffalo, New York, with offices in Western New York; Ridge View Bank, based in Roanoke, Virginia, with offices in the Southwest Virginia region; and Impressia Bank, a division focused on banking opportunities for women, which operates in CNB Bank's primary market areas. Additional information about CNB Financial Corporation may be found at www.CNBBank.bank.