ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) declared a quarterly dividend on Thursday, October 24th, Zacks reports. Shareholders 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 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, November 15th.
ConnectOne Bancorp has increased its dividend payment by an average of 22.7% per year over the last three years. ConnectOne Bancorp has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect ConnectOne Bancorp to earn $2.40 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 30.0%.
ConnectOne Bancorp Trading Down 3.3 %
Shares of NASDAQ CNOB opened at $24.62 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $943.76 million, a PE ratio of 13.03 and a beta of 1.25. ConnectOne Bancorp has a twelve month low of $14.51 and a twelve month high of $27.13. The stock has a fifty day simple moving average of $24.79 and a 200-day simple moving average of $21.51.
Analysts Set New Price Targets
Several brokerages recently weighed in on CNOB. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler upped their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ConnectOne Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $26.33.
View Our Latest Stock Report on CNOB
ConnectOne Bancorp Company Profile
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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