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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors 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 of this dividend is Tuesday, February 18th.

ConnectOne Bancorp has raised its dividend payment by an average of 17.3% per year over the last three years. ConnectOne Bancorp has a dividend payout ratio of 23.2% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 1.1 %

CNOB traded up $0.27 on Friday, reaching $25.34. 346,174 shares of the company traded hands, compared to its average volume of 212,189. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.31. The firm has a fifty day simple moving average of $24.48 and a two-hundred day simple moving average of $24.52. The company has a market cap of $972.30 million, a P/E ratio of 14.56 and a beta of 1.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on CNOB shares. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods boosted their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report 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.