ConnectOne Bancorp, Inc. (CNOB) To Go Ex-Dividend on August 14th

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be given a dividend of 0.195 per share by the financial services provider on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th.

ConnectOne Bancorp has raised its dividend payment by an average of 0.1%per year 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. Equities research analysts expect ConnectOne Bancorp to earn $3.57 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 21.8%.

ConnectOne Bancorp Trading Up 3.1%

CNOB opened at $32.36 on Friday. ConnectOne Bancorp has a one year low of $22.07 and a one year high of $34.14. The company has a market cap of $1.63 billion, a P/E ratio of 10.61 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day simple moving average is $31.81 and its 200-day simple moving average is $29.01.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The firm had revenue of $121.57 million during the quarter, compared to analysts’ expectations of $121.55 million. ConnectOne Bancorp had a return on equity of 11.35% and a net margin of 20.21%. As a group, equities research analysts expect that ConnectOne Bancorp will post 3.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods raised their price objective 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. Weiss Ratings upgraded shares of ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 20th. Raymond James Financial reaffirmed a “market perform” rating on shares of ConnectOne Bancorp in a research report on Wednesday, July 1st. Piper Sandler lifted their price target on shares of ConnectOne Bancorp from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Finally, Hovde Group boosted their price target on shares of ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

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.