ConnectOne Bancorp, Inc. (CNOB) To Go Ex-Dividend on August 15th

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Tuesday, July 29th, RTT News reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.18 per share by the financial services provider on Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, August 15th.

ConnectOne Bancorp has a dividend payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Analysts expect ConnectOne Bancorp to earn $3.26 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 22.1%.

ConnectOne Bancorp Price Performance

Shares of NASDAQ:CNOB opened at $23.29 on Thursday. The company’s fifty day moving average price is $23.60 and its 200-day moving average price is $23.74. The firm has a market capitalization of $895.97 million, a price-to-earnings ratio of 26.77 and a beta of 1.10. ConnectOne Bancorp has a one year low of $20.08 and a one year high of $29.31. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. ConnectOne Bancorp had a net margin of 6.85% and a return on equity of 7.51%. The company had revenue of $84.65 million for the quarter, compared to analyst estimates of $72.80 million. On average, equities research analysts anticipate that ConnectOne Bancorp will post 2.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNOB has been the topic of several recent research reports. Hovde Group increased their target price on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the company an “outperform” rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an “outperform” rating on the stock in a report on Friday, April 25th.

Institutional Investors Weigh In On ConnectOne Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in ConnectOne Bancorp by 374.7% in the 1st quarter. Jane Street Group LLC now owns 64,537 shares of the financial services provider’s stock worth $1,569,000 after acquiring an additional 50,942 shares during the last quarter. AQR Capital Management LLC grew its holdings in ConnectOne Bancorp by 7.6% in the 1st quarter. AQR Capital Management LLC now owns 74,053 shares of the financial services provider’s stock worth $1,800,000 after acquiring an additional 5,205 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ConnectOne Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 914 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

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.