Center Bancorp, Inc. (CNOB) to Issue Quarterly Dividend of $0.08 on May 1st

Center Bancorp, Inc. (NASDAQ:CNOB) declared a quarterly dividend on Wednesday, March 28th, NASDAQ reports. Stockholders of record on Monday, April 16th will be paid a dividend of 0.075 per share by the financial services provider on Tuesday, May 1st. This represents a $0.30 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, April 13th.

Shares of NASDAQ:CNOB opened at $28.60 on Friday. The stock has a market cap of $917.26, a PE ratio of 16.25 and a beta of 1.04. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.28. Center Bancorp has a 12 month low of $21.04 and a 12 month high of $31.40.

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Center Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.40 by $0.11. The firm had revenue of $41.83 million during the quarter, compared to the consensus estimate of $39.55 million. Center Bancorp had a net margin of 22.80% and a return on equity of 10.22%. equities analysts anticipate that Center Bancorp will post 2.21 earnings per share for the current year.

CNOB has been the subject of a number of research reports. BidaskClub raised shares of Center Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. ValuEngine raised shares of Center Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of Center Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 13th. Raymond James Financial increased their price target on shares of Center Bancorp from $33.00 to $34.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 3rd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $36.00 price target on shares of Center Bancorp in a research note on Tuesday, February 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.13.

In other news, CFO William S. Burns sold 1,517 shares of the stock in a transaction that occurred on Friday, March 23rd. The shares were sold at an average price of $28.87, for a total transaction of $43,795.79. Following the sale, the chief financial officer now owns 58,283 shares in the company, valued at $1,682,630.21. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO William S. Burns sold 941 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $28.60, for a total transaction of $26,912.60. Following the sale, the chief financial officer now owns 53,204 shares in the company, valued at approximately $1,521,634.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,377 shares of company stock worth $359,186. Corporate insiders own 7.63% of the company’s stock.

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About Center Bancorp

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, and NOW accounts.

Dividend History for Center Bancorp (NASDAQ:CNOB)

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