ConnectOne Bancorp Inc (NASDAQ:CNOB) Director Michael W. Kempner sold 5,650 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $21.46, for a total value of $121,249.00. Following the sale, the director now directly owns 374,426 shares of the company’s stock, valued at $8,035,181.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
ConnectOne Bancorp stock traded down $0.03 during mid-day trading on Thursday, reaching $21.55. 6,046 shares of the company were exchanged, compared to its average volume of 157,628. ConnectOne Bancorp Inc has a twelve month low of $19.30 and a twelve month high of $31.40. The company has a current ratio of 1.00, a quick ratio of 1.16 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $690.58 million, a price-to-earnings ratio of 12.37 and a beta of 0.93.
ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $41.39 million during the quarter, compared to analysts’ expectations of $41.52 million. ConnectOne Bancorp had a return on equity of 12.07% and a net margin of 24.26%. Equities analysts predict that ConnectOne Bancorp Inc will post 2.16 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Monday, October 15th were issued a $0.075 dividend. The ex-dividend date was Friday, October 12th. This represents a $0.30 annualized dividend and a dividend yield of 1.39%. ConnectOne Bancorp’s dividend payout ratio is currently 17.14%.
CNOB has been the subject of a number of recent research reports. BidaskClub cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. ValuEngine cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, October 22nd. Finally, Zacks Investment Research cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, one has issued a buy rating and one has given a strong buy rating to the company. ConnectOne Bancorp has an average rating of “Hold” and a consensus target price of $35.33.
Institutional investors and hedge funds have recently bought and sold shares of the company. United Services Automobile Association lifted its holdings in shares of ConnectOne Bancorp by 34.1% in the 2nd quarter. United Services Automobile Association now owns 11,474 shares of the financial services provider’s stock valued at $286,000 after buying an additional 2,917 shares during the period. Alpine Woods Capital Investors LLC acquired a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $299,000. Ramsey Quantitative Systems acquired a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $324,000. FNY Investment Advisers LLC acquired a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $324,000. Finally, BlueMountain Capital Management LLC lifted its holdings in shares of ConnectOne Bancorp by 245.5% in the 2nd quarter. BlueMountain Capital Management LLC now owns 16,283 shares of the financial services provider’s stock valued at $405,000 after buying an additional 11,570 shares during the period. 66.88% of the stock is owned by institutional investors and hedge funds.
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About ConnectOne 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.
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