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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) announced a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.18 per share by the financial services provider on Monday, December 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, November 15th.

ConnectOne Bancorp has raised its dividend by an average of 22.7% per year over the last three years. ConnectOne Bancorp has a payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ConnectOne Bancorp to earn $2.25 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 32.0%.

ConnectOne Bancorp Stock Down 1.7 %

CNOB stock opened at $27.79 on Thursday. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $29.02. The firm has a market cap of $1.07 billion, a PE ratio of 15.97 and a beta of 1.25. The firm has a 50 day simple moving average of $25.30 and a 200 day simple moving average of $22.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNOB. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 price target (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler upped their price objective on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 26th.

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.