ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) declared a quarterly dividend on Thursday, January 25th, Zacks reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.17 per share by the financial services provider on Friday, March 1st. This represents a $0.68 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, February 14th.
ConnectOne Bancorp has increased its dividend by an average of 22.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. ConnectOne Bancorp has a dividend payout ratio of 29.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ConnectOne Bancorp to earn $2.28 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 29.8%.
ConnectOne Bancorp Price Performance
Shares of NASDAQ:CNOB opened at $20.58 on Monday. The stock has a market cap of $794.59 million, a price-to-earnings ratio of 9.94 and a beta of 1.30. 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 has a 12 month low of $13.11 and a 12 month high of $24.89. The stock’s 50 day moving average price is $22.50 and its 200 day moving average price is $19.98.
Wall Street Analysts Forecast Growth
Insider Transactions at ConnectOne Bancorp
In other news, Director Stephen T. Boswell bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $18.95 per share, for a total transaction of $151,600.00. Following the acquisition, the director now directly owns 75,710 shares of the company’s stock, valued at approximately $1,434,704.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 6.58% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On ConnectOne Bancorp
Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new position in shares of ConnectOne Bancorp in the 1st quarter worth approximately $29,000. Group One Trading L.P. bought a new position in shares of ConnectOne Bancorp in the first quarter valued at about $32,000. US Bancorp DE increased its position in ConnectOne Bancorp by 98.6% in the 2nd quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 840 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of ConnectOne Bancorp by 69.4% in the third quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 866 shares during the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of ConnectOne Bancorp by 1,290.9% in the first quarter. Advisor Group Holdings Inc. now owns 2,142 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 1,988 shares during the last quarter. Institutional investors own 68.34% of the company’s stock.
About ConnectOne Bancorp
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.
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