33,570 Shares in ConnectOne Bancorp, Inc. $CNOB Acquired by Blair William & Co. IL

Blair William & Co. IL bought a new stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the second quarter, Holdings Channel.com reports. The firm bought 33,570 shares of the financial services provider’s stock, valued at approximately $777,000.

A number of other hedge funds have also recently added to or reduced their stakes in CNOB. GAMMA Investing LLC boosted its position in ConnectOne Bancorp by 16.8% in the first quarter. GAMMA Investing LLC now owns 4,002 shares of the financial services provider’s stock valued at $97,000 after buying an additional 575 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in ConnectOne Bancorp by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 205,792 shares of the financial services provider’s stock valued at $5,003,000 after buying an additional 47,894 shares in the last quarter. Stieven Capital Advisors L.P. boosted its position in ConnectOne Bancorp by 2.9% in the first quarter. Stieven Capital Advisors L.P. now owns 522,982 shares of the financial services provider’s stock valued at $12,714,000 after buying an additional 14,717 shares in the last quarter. Victory Capital Management Inc. boosted its position in ConnectOne Bancorp by 2.1% in the first quarter. Victory Capital Management Inc. now owns 53,100 shares of the financial services provider’s stock valued at $1,291,000 after buying an additional 1,100 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in ConnectOne Bancorp in the first quarter valued at approximately $304,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Down 7.8%

Shares of CNOB stock opened at $23.29 on Friday. ConnectOne Bancorp, Inc. has a 52-week low of $20.61 and a 52-week high of $29.31. The company has a 50-day simple moving average of $24.98 and a two-hundred day simple moving average of $23.81. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 26.77 and a beta of 1.14. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 0.97.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Tuesday, July 29th. The financial services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. ConnectOne Bancorp had a net margin of 6.85% and a return on equity of 7.12%. The firm had revenue of $84.65 million during the quarter, compared to the consensus estimate of $72.80 million. Research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 3.1%. ConnectOne Bancorp’s dividend payout ratio (DPR) is 82.76%.

Analyst Upgrades and Downgrades

CNOB has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ConnectOne Bancorp in a report on Wednesday, October 8th. Wall Street Zen raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

Insider Buying and Selling

In other news, Director Stephen T. Boswell purchased 6,200 shares of the business’s stock in a transaction on Friday, August 1st. The stock was purchased at an average cost of $22.23 per share, with a total value of $137,826.00. Following the acquisition, the director directly owned 280,467 shares in the company, valued at approximately $6,234,781.41. This trade represents a 2.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph T. Javitz sold 1,700 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $25.46, for a total transaction of $43,282.00. Following the completion of the transaction, the executive vice president directly owned 21,146 shares of the company’s stock, valued at approximately $538,377.16. The trade was a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 10,391 shares of company stock valued at $231,210. Company insiders own 6.24% of the company’s stock.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.