ConnectOne Bancorp (CNOB) Declares $0.16 Dividend
ConnectOne Bancorp said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.62 annualized). Shareholders of record as of February 16, 2023 will receive the payment on March 1, 2023. Previously, the company paid $0.16 per share.
At the most recent share price of $22.16 / share, the stock's dividend yield was 2.80%. Additionally, the company's dividend payout ratio is 0.19, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
The company's 3-Year dividend growth rate is 0.72%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 44.22% Upside
As of January 30, 2023, the average one-year price target for ConnectOne Bancorp is $31.96. The forecasts range from a low of $31.31 to a high of $33.60. The average price target represents an increase of 44.22% from its latest reported closing price of $22.16.
The projected annual revenue for ConnectOne Bancorp is $330MM, an increase of 11.02%. The projected annual EPS is $3.24, an increase of 6.94%.
Fund Sentiment
There are 396 funds or institutions reporting positions in ConnectOne Bancorp. This is a decrease of 13 owner(s) or 3.18%.
Average portfolio weight of all funds dedicated to US:CNOB is 0.1346%, a decrease of 6.7718%. Total shares owned by institutions decreased in the last three months by 0.76% to 31,670K shares.
What are large shareholders doing?
American Century Companies holds 1,544,341 shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 1,467,791 shares, representing an increase of 4.96%. The firm increased its portfolio allocation in CNOB by 6.77% over the last quarter.
Goldman Sachs Group holds 1,200,013 shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 1,312,077 shares, representing a decrease of 9.34%. The firm decreased its portfolio allocation in CNOB by 11.75% over the last quarter.
William Blair Investment Management holds 1,167,460 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,190,374 shares, representing a decrease of 1.96%. The firm decreased its portfolio allocation in CNOB by 1.35% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,125,000 shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 1,080,000 shares, representing an increase of 4.00%. The firm increased its portfolio allocation in CNOB by 5.39% over the last quarter.
Nuveen Asset Management holds 1,033,012 shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 978,668 shares, representing an increase of 5.26%. The firm increased its portfolio allocation in CNOB by 4.28% over the last quarter.
ConnectOne Bancorp Background Information
(This description is provided by the company.)
ConnectOne Bancorp, Inc., through its subsidiary, ConnectOne Bank offers a full suite of both commercial and consumer banking and lending products and services through its banking offices located across New York and New Jersey.
This story originally appeared on Fintel.