Jupiter Topco LLC bought a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 20,357 shares of the financial services provider’s stock, valued at approximately $681,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in shares of ConnectOne Bancorp during the second quarter worth approximately $210,000. Legal & General Group Plc acquired a new stake in shares of ConnectOne Bancorp in the second quarter worth $1,183,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ConnectOne Bancorp in the second quarter worth $9,952,000. Quantbot Technologies LP bought a new position in ConnectOne Bancorp during the second quarter worth $73,000. Finally, EP Wealth Advisors LLC bought a new position in ConnectOne Bancorp during the second quarter worth $300,000. Institutional investors and hedge funds own 67.70% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on CNOB. Weiss Ratings reissued a “buy (b)” rating on shares of ConnectOne Bancorp in a report on Monday, August 17th. Piper Sandler boosted their price objective on shares of ConnectOne Bancorp from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of ConnectOne Bancorp in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.
ConnectOne Bancorp Price Performance
CNOB opened at $32.31 on Monday. The company has a market capitalization of $1.63 billion, a P/E ratio of 10.59 and a beta of 1.03. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $32.63 and its two-hundred day moving average price is $30.12. ConnectOne Bancorp, Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $34.14.
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. ConnectOne Bancorp had a net margin of 20.21% and a return on equity of 11.24%. The company had revenue of $121.57 million during the quarter, compared to the consensus estimate of $121.55 million. On average, analysts anticipate that ConnectOne Bancorp, Inc. will post 3.37 EPS for the current year.
ConnectOne Bancorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a dividend of $0.195 per share. This represents a $0.78 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, August 14th. ConnectOne Bancorp’s payout ratio is presently 25.57%.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.
The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.
Featured Stories
- Five stocks we like better than ConnectOne Bancorp
- AI Token Costs Are Changing the Hardware vs. Software Debate
- 3 ETFs That Could Move as Rate Expectations Shift
- 3 Stocks With September Catalysts Investors Shouldn’t Ignore
- Ollie’s Bargain Outlet Stock Falls on Weak Comps Despite Margin Gains
Want to see what other hedge funds are holding CNOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Free Report).
Receive News & Ratings for ConnectOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConnectOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
