ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shareholders to Get $0.20 Quarterly Dividend

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) announced 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 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 every year for the last 4 years. ConnectOne Bancorp has a payout ratio of 24.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ConnectOne Bancorp to earn $3.69 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 21.1%.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB traded up $1.94 during midday trading on Thursday, hitting $32.82. The company had a trading volume of 688,966 shares, compared to its average volume of 371,178. The firm has a fifty day simple moving average of $31.31 and a two-hundred day simple moving average of $31.14. ConnectOne Bancorp has a fifty-two week low of $23.20 and a fifty-two week high of $34.14. 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 stock has a market cap of $1.65 billion, a price-to-earnings ratio of 10.76 and a beta of 1.08.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data 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 net margin of 20.21% and a return on equity of 11.24%. The business had revenue of $127.23 million during the quarter, compared to analyst estimates of $125.36 million. Equities analysts forecast that ConnectOne Bancorp will post 3.35 earnings per share for the current fiscal year.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc is the parent company of ConnectOne Bank, a full-service commercial bank headquartered in Englewood Cliffs, New Jersey. The bank primarily serves businesses, entrepreneurs, professionals, nonprofit organizations and individuals in the New York metropolitan area and surrounding communities.

ConnectOne Bank provides a range of commercial and personal banking products, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans and consumer lending.