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

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10, Zacks reports. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%.

ConnectOne Bancorp Stock Down 0.5 %

NASDAQ CNOB traded down $0.12 during trading on Monday, reaching $25.22. 255,376 shares of the company's stock traded hands, compared to its average volume of 211,166. 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 firm has a market cap of $967.69 million, a price-to-earnings ratio of 14.25 and a beta of 1.30. The company's 50 day simple moving average is $24.43 and its two-hundred day simple moving average is $24.58. ConnectOne Bancorp has a 12-month low of $17.07 and a 12-month high of $29.31.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio (DPR) is 40.68%.

Wall Street Analyst Weigh In

CNOB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised 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.