ConnectOne Bancorp Inc (CNOB) Director Sells $121,249.00 in Stock

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ConnectOne Bancorp Inc (NASDAQ:CNOB) Director Michael W. Kempner sold 5,650 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $21.46, for a total value of $121,249.00. Following the completion of the sale, the director now owns 374,426 shares in the company, valued at approximately $8,035,181.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

CNOB opened at $21.26 on Friday. The company has a market capitalization of $695.74 million, a P/E ratio of 10.04 and a beta of 0.93. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.16 and a current ratio of 1.00. ConnectOne Bancorp Inc has a 1-year low of $19.30 and a 1-year high of $31.40.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $41.39 million for the quarter, compared to analysts’ expectations of $41.52 million. ConnectOne Bancorp had a return on equity of 12.07% and a net margin of 24.26%. As a group, equities research analysts forecast that ConnectOne Bancorp Inc will post 2.16 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Monday, October 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, October 12th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 17.14%.

A number of research firms recently weighed in on CNOB. Zacks Investment Research cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub upgraded ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, August 11th. Finally, ValuEngine cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Three analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the company. ConnectOne Bancorp has a consensus rating of “Hold” and an average target price of $35.33.

A number of large investors have recently made changes to their positions in CNOB. Wells Fargo & Company MN grew its holdings in ConnectOne Bancorp by 3.7% during the 1st quarter. Wells Fargo & Company MN now owns 59,367 shares of the financial services provider’s stock valued at $1,710,000 after buying an additional 2,118 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in ConnectOne Bancorp during the 2nd quarter valued at $324,000. Ramsey Quantitative Systems acquired a new stake in ConnectOne Bancorp during the 2nd quarter valued at $324,000. First Trust Advisors LP grew its holdings in ConnectOne Bancorp by 141.8% during the 2nd quarter. First Trust Advisors LP now owns 159,828 shares of the financial services provider’s stock valued at $3,980,000 after buying an additional 93,738 shares during the last quarter. Finally, Bowling Portfolio Management LLC acquired a new stake in ConnectOne Bancorp during the 2nd quarter valued at $1,025,000. Hedge funds and other institutional investors own 66.88% of the company’s stock.

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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, time and savings accounts, and NOW accounts.

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