ConnectOne Bancorp, Inc. (CNOB) To Go Ex-Dividend on May 14th

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.18 per share by the financial services provider on Monday, June 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.17.

ConnectOne Bancorp has raised its dividend payment by an average of 22.7% per year over the last three years and has increased its dividend every year for the last 3 years. ConnectOne Bancorp has a dividend payout ratio of 30.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ConnectOne Bancorp to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 30.9%.

ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock opened at $18.30 on Friday. The company has a market capitalization of $701.44 million, a PE ratio of 9.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14. The company has a 50-day simple moving average of $19.16 and a two-hundred day simple moving average of $20.06. ConnectOne Bancorp has a one year low of $13.11 and a one year high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.41%. The business had revenue of $66.03 million during the quarter, compared to the consensus estimate of $65.50 million. Research analysts expect that ConnectOne Bancorp will post 1.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNOB. Raymond James upped their price objective on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Piper Sandler upped their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 26th. StockNews.com downgraded shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $24.00 price objective (down previously from $27.00) on shares of ConnectOne Bancorp in a report on Friday. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

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.