Other research analysts have also recently issued research reports about the stock. TheStreet raised shares of ConnectOne Bancorp from a c+ rating to a b- rating in a research report on Monday, February 25th. Zacks Investment Research raised shares of ConnectOne Bancorp from a sell rating to a hold rating in a research report on Thursday, January 24th. Finally, ValuEngine raised shares of ConnectOne Bancorp from a strong sell rating to a sell rating in a research report on Thursday, February 7th. One research analyst has rated the stock with a sell rating and two have assigned a hold rating to the company. ConnectOne Bancorp currently has a consensus rating of Hold.
Shares of CNOB stock opened at $20.50 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $738.15 million, a PE ratio of 9.19 and a beta of 0.87. ConnectOne Bancorp has a twelve month low of $17.07 and a twelve month high of $29.60.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be given a dividend of $0.09 per share. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, April 12th. This represents a $0.36 annualized dividend and a dividend yield of 1.76%. ConnectOne Bancorp’s payout ratio is presently 13.45%.
In related news, Director William Thompson sold 2,700 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $20.11, for a total value of $54,297.00. Following the sale, the director now directly owns 74,787 shares in the company, valued at approximately $1,503,966.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 7.67% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. raised its holdings in ConnectOne Bancorp by 3.5% in the 1st quarter. Hennessy Advisors Inc. now owns 295,000 shares of the financial services provider’s stock valued at $5,812,000 after buying an additional 10,000 shares during the period. Bell Rock Capital LLC purchased a new stake in ConnectOne Bancorp in the 1st quarter valued at about $176,000. FCA Corp TX purchased a new stake in ConnectOne Bancorp in the 4th quarter valued at about $124,000. MUFG Securities EMEA plc purchased a new stake in ConnectOne Bancorp in the 4th quarter valued at about $1,066,000. Finally, Geode Capital Management LLC raised its holdings in ConnectOne Bancorp by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 347,755 shares of the financial services provider’s stock valued at $6,423,000 after buying an additional 24,201 shares during the period. Hedge funds and other institutional investors own 60.34% of the company’s stock.
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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