ConnectOne Bancorp, Inc. Plans Quarterly Dividend of $0.20 (NASDAQ:CNOB)

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) announced a quarterly dividend on Thursday, July 23rd. Investors 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 yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th.

ConnectOne Bancorp has increased its dividend payment by an average of 0.1%annually 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% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

CNOB traded down $1.60 during trading on Thursday, hitting $31.40. The stock had a trading volume of 735,787 shares, compared to its average volume of 368,757. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day moving average price of $31.70 and a 200-day moving average price of $28.95. ConnectOne Bancorp has a one year low of $22.07 and a one year high of $34.14. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 18.15 and a beta of 1.05.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data 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. ConnectOne Bancorp had a return on equity of 10.17% and a net margin of 13.21%.The firm had revenue of $121.57 million for the quarter, compared to analysts’ expectations of $121.55 million. As a group, research analysts predict that ConnectOne Bancorp will post 3.28 EPS for the current year.

About ConnectOne Bancorp

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.