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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.18 per share by the financial services provider on Monday, March 3rd. This represents a $0.72 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, February 18th.

ConnectOne Bancorp has raised its dividend payment by an average of 17.3% annually over the last three years. ConnectOne Bancorp has a dividend payout ratio of 23.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect ConnectOne Bancorp to earn $2.19 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 32.9%.

ConnectOne Bancorp Stock Performance

CNOB traded up $0.27 during trading on Friday, hitting $25.34. The company’s stock had a trading volume of 346,174 shares, compared to its average volume of 212,189. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. The firm has a market cap of $972.30 million, a PE ratio of 14.56 and a beta of 1.30. The business’s 50 day simple moving average is $24.48 and its 200-day simple moving average is $24.52.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.56% and a return on equity of 6.71%. As a group, sell-side analysts predict that ConnectOne Bancorp will post 1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

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.