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

ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Free Report) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.18 per share by the financial services provider on Monday, December 2nd. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Friday, November 15th.

ConnectOne Bancorp has raised its dividend payment by an average of 22.7% annually over the last three years. ConnectOne Bancorp has a payout ratio of 56.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ConnectOne Bancorp to earn $2.25 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 32.0%.

ConnectOne Bancorp Stock Performance

Shares of CNOB stock opened at $27.79 on Thursday. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $29.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $1.07 billion, a P/E ratio of 15.97 and a beta of 1.25. The company’s fifty day moving average price is $25.30 and its two-hundred day moving average price is $22.26.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler boosted their price objective on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 target price (up previously from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th.

View Our Latest Stock Report on CNOB

About ConnectOne Bancorp

(Get Free Report)

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.

Further Reading

Dividend History for ConnectOne Bancorp (NASDAQ:CNOB)

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