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

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 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date 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 payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

CNOB stock opened at $25.34 on Friday. The company’s fifty day moving average price is $24.43 and its 200-day moving average price is $24.55. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. The company has a market capitalization of $972.30 million, a PE ratio of 14.56 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.71% and a net margin of 13.56%. On average, equities analysts anticipate that ConnectOne Bancorp will post 1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods increased their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.