JPMorgan Chase & Co. acquired a new stake in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 40,724 shares of the financial services provider’s stock, valued at approximately $1,002,000. JPMorgan Chase & Co. owned approximately 0.13% of ConnectOne Bancorp as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of CNOB. SG Americas Securities LLC purchased a new position in ConnectOne Bancorp during the third quarter valued at $112,000. Legal & General Group Plc lifted its holdings in ConnectOne Bancorp by 4.0% during the second quarter. Legal & General Group Plc now owns 7,868 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 300 shares in the last quarter. Benchmark Capital Advisors purchased a new position in ConnectOne Bancorp during the third quarter valued at $202,000. Clear Harbor Asset Management LLC purchased a new position in ConnectOne Bancorp during the third quarter valued at $209,000. Finally, GSA Capital Partners LLP purchased a new position in ConnectOne Bancorp during the second quarter valued at $244,000. 68.57% of the stock is currently owned by institutional investors and hedge funds.
CNOB has been the topic of several recent analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $29.00 price objective on shares of ConnectOne Bancorp in a report on Thursday, October 12th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $32.00 price objective on shares of ConnectOne Bancorp in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a research report on Monday, October 30th. Finally, BidaskClub cut shares of ConnectOne Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 15th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 11th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 31.58%.
In other news, CEO Frank Sorrentino III sold 5,848 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $26.49, for a total value of $154,913.52. Following the completion of the sale, the chief executive officer now directly owns 560,562 shares in the company, valued at $14,849,287.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura Criscione sold 4,300 shares of the stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $26.49, for a total transaction of $113,907.00. Following the completion of the sale, the executive vice president now owns 56,536 shares of the company’s stock, valued at $1,497,638.64. The disclosure for this sale can be found here. 7.63% of the stock is owned by corporate insiders.
ConnectOne Bancorp 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.
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