Chicago Equity Partners LLC reduced its stake in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,950 shares of the financial services provider’s stock after selling 4,180 shares during the period. Chicago Equity Partners LLC owned approximately 0.08% of ConnectOne Bancorp worth $643,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CNOB. Denali Advisors LLC bought a new stake in shares of ConnectOne Bancorp in the 2nd quarter valued at approximately $45,000. Corrado Advisors LLC grew its stake in shares of ConnectOne Bancorp by 226.4% in the 2nd quarter. Corrado Advisors LLC now owns 123,103 shares of the financial services provider’s stock valued at $3,693,000 after purchasing an additional 85,393 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $323,000. Quantitative Systematic Strategies LLC bought a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $319,000. Finally, Systematic Financial Management LP bought a new stake in ConnectOne Bancorp during the 2nd quarter worth approximately $718,000. Institutional investors own 60.71% of the company’s stock.
NASDAQ CNOB opened at $25.03 on Thursday. The firm has a market cap of $870.40 million, a PE ratio of 10.94 and a beta of 0.97. ConnectOne Bancorp Inc has a one year low of $17.07 and a one year high of $25.11. The stock’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $21.98. 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 released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The business had revenue of $50.52 million for the quarter, compared to analyst estimates of $49.01 million. ConnectOne Bancorp had a return on equity of 11.67% and a net margin of 26.60%. As a group, equities analysts expect that ConnectOne Bancorp Inc will post 2.3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 14th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Thursday, October 10th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 16.14%.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub upgraded ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Stephens assumed coverage on ConnectOne Bancorp in a research report on Monday, October 28th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.00.
In related news, Director Stephen T. Boswell purchased 10,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were bought at an average price of $20.47 per share, with a total value of $214,935.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank W. Baier purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the purchase, the director now owns 82,233 shares in the company, valued at $1,643,837.67. The disclosure for this purchase can be found here. In the last three months, insiders bought 21,519 shares of company stock worth $327,766. 7.58% of the stock is currently owned by company insiders.
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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