ConnectOne Bancorp (NASDAQ:CNOB) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

ConnectOne Bancorp (NASDAQ:CNOB) announced its quarterly earnings data on Thursday. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.10, Zacks reports. ConnectOne Bancorp had a net margin of 13.56% and a return on equity of 6.71%.

ConnectOne Bancorp Stock Up 1.1 %

NASDAQ CNOB opened at $25.34 on Friday. The company has a market capitalization of $972.30 million, a P/E ratio of 14.56 and a beta of 1.30. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month 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. The company’s 50 day simple moving average is $24.43 and its 200 day simple moving average is $24.55.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is currently 41.38%.

Analysts Set New Price Targets

A number of research firms have weighed in on CNOB. Keefe, Bruyette & Woods upped their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

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.