ConnectOne Bancorp Inc (CNOB) Shares Bought by The Manufacturers Life Insurance Company

Share on StockTwits

The Manufacturers Life Insurance Company raised its stake in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 90.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 429,020 shares of the financial services provider’s stock after buying an additional 203,694 shares during the period. The Manufacturers Life Insurance Company owned 1.33% of ConnectOne Bancorp worth $12,355,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of ConnectOne Bancorp by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 265,873 shares of the financial services provider’s stock valued at $6,846,000 after acquiring an additional 6,533 shares during the last quarter. Private Advisor Group LLC bought a new position in shares of ConnectOne Bancorp during the fourth quarter valued at $258,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of ConnectOne Bancorp by 38.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 24,933 shares of the financial services provider’s stock valued at $642,000 after acquiring an additional 6,966 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ConnectOne Bancorp by 2.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,441,355 shares of the financial services provider’s stock valued at $37,115,000 after acquiring an additional 32,185 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of ConnectOne Bancorp during the fourth quarter valued at $270,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Several equities analysts have recently issued reports on CNOB shares. BidaskClub raised shares of ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. ValuEngine raised shares of ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Raymond James raised their price target on shares of ConnectOne Bancorp from $33.00 to $34.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 3rd. Zacks Investment Research downgraded shares of ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $36.00 target price on shares of ConnectOne Bancorp in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $34.13.

Shares of NASDAQ CNOB opened at $25.50 on Wednesday. ConnectOne Bancorp Inc has a twelve month low of $21.04 and a twelve month high of $31.40. The firm has a market cap of $827.15 million, a P/E ratio of 13.39 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.40). ConnectOne Bancorp had a return on equity of 11.06% and a net margin of 18.04%. The firm had revenue of $39.55 million for the quarter, compared to the consensus estimate of $40.64 million. research analysts predict that ConnectOne Bancorp Inc will post 2.18 EPS for the current fiscal year.

ConnectOne Bancorp 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, time and savings accounts, and NOW accounts.

Want to see what other hedge funds are holding CNOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConnectOne Bancorp Inc (NASDAQ:CNOB).

Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

Receive News & Ratings for ConnectOne Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ConnectOne Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply