ConnectOne Bancorp, Inc. to Issue Quarterly Dividend of $0.18 (NASDAQ:CNOB)

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) announced a quarterly dividend on Thursday, July 25th, Zacks reports. Investors of record on Thursday, August 15th will be given a dividend of 0.18 per share by the financial services provider on Tuesday, September 3rd. This represents a $0.72 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, August 15th.

ConnectOne Bancorp has raised its dividend payment by an average of 22.7% annually over the last three years. ConnectOne Bancorp has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ConnectOne Bancorp to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 35.3%.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $24.37 on Friday. The stock has a market capitalization of $934.10 million, a price-to-earnings ratio of 12.89 and a beta of 1.27. ConnectOne Bancorp has a 52-week low of $14.51 and a 52-week high of $25.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $19.40 and its two-hundred day moving average price is $19.91.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.39%. The firm had revenue of $64.15 million during the quarter, compared to analyst estimates of $63.93 million. On average, equities analysts predict that ConnectOne Bancorp will post 1.66 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CNOB. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a report on Friday. StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.00.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.