ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) declared 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 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, August 15th.
ConnectOne Bancorp has increased its dividend payment by an average of 22.7% per year over the last three years. ConnectOne Bancorp has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 4.9 %
Shares of CNOB stock opened at $24.37 on Friday. ConnectOne Bancorp has a twelve month low of $14.51 and a twelve month high of $25.41. The stock has a market cap of $934.10 million, a P/E ratio of 12.89 and a beta of 1.27. The stock has a 50 day moving average of $19.40 and a 200 day moving average of $19.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CNOB. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 10th. 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 note on Friday. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.
View Our Latest Report on ConnectOne Bancorp
About ConnectOne Bancorp
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.
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