ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) declared a quarterly dividend on Thursday, April 25th, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.18 per share by the financial services provider on Friday, May 24th. This represents a $0.72 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.17.
ConnectOne Bancorp has increased its dividend payment by an average of 22.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. ConnectOne Bancorp has a payout ratio of 30.9% meaning 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 Up 0.6 %
Shares of ConnectOne Bancorp stock traded up $0.11 during trading hours on Friday, hitting $18.57. The company had a trading volume of 1,771 shares, compared to its average volume of 171,264. The company’s 50-day moving average is $19.21 and its two-hundred day moving average is $20.06. ConnectOne Bancorp has a twelve month low of $13.11 and a twelve month high of $24.44. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market cap of $711.79 million, a P/E ratio of 8.92 and a beta of 1.25.
Wall Street Analyst Weigh In
Several analysts recently commented on CNOB shares. Keefe, Bruyette & Woods upped their price target on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Piper Sandler upped their price target on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. StockNews.com downgraded shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Raymond James upped their price objective on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.25.
Check Out Our Latest Analysis 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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