ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 14th will be paid a dividend of 0.195 per share by the financial services provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th.
ConnectOne Bancorp has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. ConnectOne Bancorp has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect ConnectOne Bancorp to earn $3.64 per share next year, which means the company should continue to be able to cover its $0.78 annual dividend with an expected future payout ratio of 21.4%.
ConnectOne Bancorp Trading Up 1.0%
NASDAQ:CNOB opened at $32.89 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $32.59 and its two-hundred day moving average is $29.56. ConnectOne Bancorp has a 52 week low of $23.10 and a 52 week high of $34.14. The company has a market cap of $1.65 billion, a PE ratio of 10.78 and a beta of 1.05.
Analysts Set New Price Targets
CNOB has been the subject of a number of recent research reports. Weiss Ratings raised shares of ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, May 20th. Keefe, Bruyette & Woods raised their target price on shares of ConnectOne Bancorp from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Piper Sandler lifted their target price on ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Hovde Group upped their target price on ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of ConnectOne Bancorp in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, ConnectOne Bancorp has a consensus rating of “Moderate Buy” and an average price target of $35.00.
Read Our Latest Stock Report on CNOB
ConnectOne Bancorp Company Profile
ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.
The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.
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