ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.1950 per share by the financial services provider on Tuesday, December 1st. This represents a $0.78 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th.
ConnectOne Bancorp has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. ConnectOne Bancorp has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ConnectOne Bancorp to earn $3.80 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 20.5%.
ConnectOne Bancorp Stock Down 0.6%
ConnectOne Bancorp stock opened at $32.82 on Wednesday. The stock’s 50 day moving average price is $31.42 and its 200 day moving average price is $30.22. ConnectOne Bancorp has a 1-year low of $23.20 and a 1-year high of $34.14. The company has a market cap of $1.65 billion, a PE ratio of 11.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.05 and a quick ratio of 0.99.
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last released its earnings results on Thursday, October 22nd. The financial services provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. ConnectOne Bancorp had a return on equity of 11.96% and a net margin of 18.97%. The company had revenue of $127.23 million during the quarter, compared to the consensus estimate of $125.36 million. On average, sell-side analysts predict that ConnectOne Bancorp will post 3.29 EPS for the current fiscal year.
About ConnectOne Bancorp
ConnectOne Bancorp, Inc. is a bank holding company whose principal subsidiary is ConnectOne Bank. The bank provides commercial and consumer banking services to businesses, professionals, and individuals, including deposit accounts, business and personal loans, and cash-management and digital banking services. Its lending activities include commercial real estate and commercial and industrial financing, alongside residential mortgage and consumer lending. ConnectOne also offers treasury-management services to help business clients manage payments, liquidity, and other financial operations.
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