Stephen T. Boswell Purchases 15,000 Shares of ConnectOne Bancorp Inc (CNOB) Stock

ConnectOne Bancorp Inc (NASDAQ:CNOB) Director Stephen T. Boswell purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The stock was bought at an average price of $20.83 per share, for a total transaction of $312,450.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ConnectOne Bancorp stock opened at $20.73 on Thursday. ConnectOne Bancorp Inc has a 12-month low of $19.30 and a 12-month high of $31.40. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $665.90 million, a price-to-earnings ratio of 9.62 and a beta of 0.84.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. ConnectOne Bancorp had a return on equity of 12.20% and a net margin of 24.26%. The firm had revenue of $41.39 million for the quarter, compared to analysts’ expectations of $41.52 million. As a group, equities analysts anticipate that ConnectOne Bancorp Inc will post 2.16 earnings per share for the current fiscal year.



The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, October 12th. ConnectOne Bancorp’s dividend payout ratio is presently 17.14%.

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in ConnectOne Bancorp by 81.0% in the first quarter. Barclays PLC now owns 8,811 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 3,944 shares during the last quarter. United Services Automobile Association grew its position in ConnectOne Bancorp by 34.1% in the second quarter. United Services Automobile Association now owns 11,474 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 2,917 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new position in ConnectOne Bancorp in the second quarter valued at about $299,000. Ramsey Quantitative Systems acquired a new stake in shares of ConnectOne Bancorp during the second quarter valued at about $324,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of ConnectOne Bancorp during the second quarter valued at about $324,000. Hedge funds and other institutional investors own 67.17% of the company’s stock.

A number of research analysts recently commented on CNOB shares. BidaskClub cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. ValuEngine cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Zacks Investment Research cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Finally, Stephens began coverage on ConnectOne Bancorp in a research report on Friday, July 6th. They issued a “weight” rating on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $34.13.

About ConnectOne Bancorp

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, time and savings accounts, and NOW accounts.

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