ConnectOne Bancorp Inc (NASDAQ:CNOB) Director William Thompson sold 1,325 shares of ConnectOne Bancorp stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $25.15, for a total transaction of $33,323.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
CNOB remained flat at $$24.95 during trading on Friday. 103,300 shares of the company’s stock were exchanged, compared to its average volume of 136,496. ConnectOne Bancorp Inc has a 52-week low of $21.04 and a 52-week high of $31.40. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.31. The company has a market cap of $814.27 million, a price-to-earnings ratio of 14.26 and a beta of 0.89.
ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, July 26th. The financial services provider reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. ConnectOne Bancorp had a net margin of 21.98% and a return on equity of 11.63%. The firm had revenue of $40.33 million for the quarter, compared to analyst estimates of $40.36 million. research analysts expect that ConnectOne Bancorp Inc will post 2.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Shareholders of record on Monday, July 16th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, July 13th. ConnectOne Bancorp’s payout ratio is 17.14%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System grew its holdings in ConnectOne Bancorp by 12.6% during the 2nd quarter. California Public Employees Retirement System now owns 29,605 shares of the financial services provider’s stock worth $737,000 after acquiring an additional 3,305 shares during the last quarter. Millennium Management LLC grew its holdings in ConnectOne Bancorp by 61.6% during the 2nd quarter. Millennium Management LLC now owns 282,953 shares of the financial services provider’s stock worth $7,046,000 after acquiring an additional 107,863 shares during the last quarter. Bank of America Corp DE grew its holdings in ConnectOne Bancorp by 25.3% during the 2nd quarter. Bank of America Corp DE now owns 193,888 shares of the financial services provider’s stock worth $4,828,000 after acquiring an additional 39,200 shares during the last quarter. Renaissance Technologies LLC grew its holdings in ConnectOne Bancorp by 9.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,047,576 shares of the financial services provider’s stock worth $26,085,000 after acquiring an additional 89,300 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its holdings in ConnectOne Bancorp by 245.5% during the 2nd quarter. BlueMountain Capital Management LLC now owns 16,283 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 11,570 shares during the last quarter. 67.17% of the stock is currently owned by hedge funds and other institutional investors.
CNOB has been the topic of several research reports. ValuEngine lowered shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. BidaskClub lowered shares of ConnectOne Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, April 28th. Zacks Investment Research lowered shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 30th. Finally, Stephens assumed coverage on shares of ConnectOne Bancorp in a report on Friday, July 6th. They set a “weight” rating on the stock. Three analysts have rated the stock with a sell rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. ConnectOne Bancorp presently has an average rating of “Hold” and a consensus price target of $34.13.
ConnectOne Bancorp Company Profile
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.
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