ConnectOne Bancorp Inc (NASDAQ:CNOB) declared a quarterly dividend on Thursday, March 28th, Wall Street Journal reports. Shareholders of record on Monday, April 15th will be given a dividend of 0.09 per share by the financial services provider on Wednesday, May 1st. This represents a $0.36 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, April 12th. This is an increase from ConnectOne Bancorp’s previous quarterly dividend of $0.08.

ConnectOne Bancorp has a payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ConnectOne Bancorp to earn $2.38 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 15.1%.

ConnectOne Bancorp stock opened at $20.69 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.21. The firm has a market cap of $720.91 million, a price-to-earnings ratio of 9.28 and a beta of 0.87. ConnectOne Bancorp has a fifty-two week low of $17.07 and a fifty-two week high of $29.60.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. ConnectOne Bancorp had a return on equity of 12.31% and a net margin of 27.20%. The business had revenue of $41.68 million for the quarter, compared to analysts’ expectations of $43.01 million. On average, research analysts anticipate that ConnectOne Bancorp will post 2.18 EPS for the current year.

Several equities research analysts have recently issued reports on the company. BidaskClub upgraded ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, March 30th. Zacks Investment Research cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. ValuEngine cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, TheStreet upgraded ConnectOne Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. Three research analysts have rated the stock with a sell rating, ConnectOne Bancorp currently has a consensus rating of “Sell”.

In other news, Director William Thompson sold 2,700 shares of the firm’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $20.11, for a total transaction of $54,297.00. Following the sale, the director now owns 74,787 shares in the company, valued at $1,503,966.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.67% of the stock is owned by company insiders.

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ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.

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Dividend History for ConnectOne Bancorp (NASDAQ:CNOB)

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