ConnectOne Bancorp, Inc. (CNOB) to Issue Quarterly Dividend of $0.20 on June 1st

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Thursday, April 23rd. Investors of record on Friday, May 15th will be given a dividend of 0.195 per share by the financial services provider on Monday, June 1st. This represents a c) annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, May 15th. This is a 8.3% increase from ConnectOne Bancorp’s previous quarterly dividend of $0.18.

ConnectOne Bancorp has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 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 $3.61 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 21.6%.

ConnectOne Bancorp Price Performance

CNOB opened at $29.46 on Wednesday. The stock’s 50 day simple moving average is $27.52 and its 200 day simple moving average is $26.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.97 and a quick ratio of 0.97. ConnectOne Bancorp has a 1 year low of $21.79 and a 1 year high of $30.65. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 17.03 and a beta of 1.06.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.06. The business had revenue of $116.64 million for the quarter, compared to analyst estimates of $119.59 million. ConnectOne Bancorp had a return on equity of 10.17% and a net margin of 13.21%. As a group, analysts predict that ConnectOne Bancorp will post 3.3 earnings per share for the current year.

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.