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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Friday, August 14th will be paid a dividend of 0.195 per share by the financial services provider on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 14th.

ConnectOne Bancorp has increased its dividend 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 4.8%

NASDAQ CNOB opened at $31.40 on Friday. 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 firm’s fifty day moving average price is $31.74 and its 200 day moving average price is $28.99. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 18.15 and a beta of 1.05. ConnectOne Bancorp has a 12 month low of $22.07 and a 12 month high of $34.14.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.82 by $0.02. ConnectOne Bancorp had a net margin of 13.21% and a return on equity of 10.17%. The firm had revenue of $121.57 million for the quarter, compared to analyst estimates of $121.55 million. On average, sell-side analysts expect that ConnectOne Bancorp will post 3.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $15,712,000. Kestra Advisory Services LLC increased its stake in ConnectOne Bancorp by 226.6% in the 1st quarter. Kestra Advisory Services LLC now owns 97,663 shares of the financial services provider’s stock valued at $2,614,000 after buying an additional 67,761 shares during the period. Genesis Financial Group LLC acquired a new position in ConnectOne Bancorp in the 4th quarter valued at $535,000. UBS Group AG raised its position in ConnectOne Bancorp by 579.2% during the 4th quarter. UBS Group AG now owns 705,119 shares of the financial services provider’s stock worth $18,488,000 after buying an additional 601,310 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new position in ConnectOne Bancorp during the 4th quarter worth $4,261,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

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.