ConnectOne Bancorp Inc (CNOB) EVP Sells $24,963.68 in Stock

ConnectOne Bancorp Inc (NASDAQ:CNOB) EVP Elizabeth Magennis sold 868 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $28.76, for a total transaction of $24,963.68. Following the sale, the executive vice president now directly owns 59,484 shares of the company’s stock, valued at approximately $1,710,759.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of ConnectOne Bancorp Inc (NASDAQ CNOB) opened at $28.65 on Friday. ConnectOne Bancorp Inc has a 1 year low of $21.04 and a 1 year high of $29.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.98. The firm has a market cap of $902.82, a P/E ratio of 21.22 and a beta of 1.05.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.11. ConnectOne Bancorp had a net margin of 22.80% and a return on equity of 10.30%. The business had revenue of $41.83 million during the quarter, compared to the consensus estimate of $39.55 million. research analysts expect that ConnectOne Bancorp Inc will post 2.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Monday, January 15th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Thursday, January 11th. ConnectOne Bancorp’s payout ratio is currently 22.22%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC bought a new position in ConnectOne Bancorp during the third quarter worth $454,000. Prudential Financial Inc. lifted its stake in ConnectOne Bancorp by 24.9% during the second quarter. Prudential Financial Inc. now owns 22,529 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 4,490 shares during the last quarter. Wells Fargo & Company MN lifted its stake in ConnectOne Bancorp by 18.0% during the second quarter. Wells Fargo & Company MN now owns 35,666 shares of the financial services provider’s stock worth $804,000 after purchasing an additional 5,436 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in ConnectOne Bancorp by 25.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 139,592 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 28,064 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in ConnectOne Bancorp during the third quarter worth $293,000. Hedge funds and other institutional investors own 68.35% of the company’s stock.

A number of research firms have recently weighed in on CNOB. BidaskClub raised shares of ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $32.00 price target on shares of ConnectOne Bancorp in a research report on Thursday, October 26th. Zacks Investment Research raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price target for the company in a research report on Monday, October 30th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $30.50 price target on shares of ConnectOne Bancorp in a research report on Wednesday, November 1st.

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ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.

Insider Buying and Selling by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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