A number of other equities analysts also recently issued reports on CNOB. ValuEngine raised ConnectOne Bancorp from a strong sell rating to a sell rating in a report on Wednesday, January 2nd. Zacks Investment Research downgraded ConnectOne Bancorp from a hold rating to a sell rating in a report on Thursday, January 3rd. Finally, TheStreet downgraded ConnectOne Bancorp from a b- rating to a c+ rating in a report on Wednesday, December 19th. One analyst has rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company has an average rating of Hold.
Shares of ConnectOne Bancorp stock opened at $20.50 on Friday. ConnectOne Bancorp has a one year low of $17.07 and a one year high of $29.60. The stock has a market cap of $738.15 million, a PE ratio of 9.19 and a beta of 0.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.04. ConnectOne Bancorp had a return on equity of 12.31% and a net margin of 27.20%. The business had revenue of $41.68 million during the quarter, compared to the consensus estimate of $43.01 million. On average, sell-side analysts predict that ConnectOne Bancorp will post 2.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.76%. This is an increase from ConnectOne Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, April 12th. ConnectOne Bancorp’s dividend payout ratio is 13.45%.
In related news, Director William Thompson sold 2,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $20.11, for a total value of $54,297.00. Following the completion of the transaction, the director now directly owns 74,787 shares of the company’s stock, valued at $1,503,966.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.67% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Hennessy Advisors Inc. boosted its holdings in shares of ConnectOne Bancorp by 3.5% in the first quarter. Hennessy Advisors Inc. now owns 295,000 shares of the financial services provider’s stock valued at $5,812,000 after acquiring an additional 10,000 shares during the period. Bell Rock Capital LLC acquired a new stake in shares of ConnectOne Bancorp in the first quarter valued at approximately $176,000. FCA Corp TX acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $124,000. MUFG Securities EMEA plc acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $1,066,000. Finally, Geode Capital Management LLC boosted its holdings in shares of ConnectOne Bancorp by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 347,755 shares of the financial services provider’s stock valued at $6,423,000 after acquiring an additional 24,201 shares during the period. 60.34% of the stock is owned by hedge funds and other institutional investors.
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, and time and savings accounts.
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