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.
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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