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.
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.
TRADEMARK VIOLATION NOTICE: “ConnectOne Bancorp Inc (CNOB) Director Sells $121,249.00 in Stock” was published by Week Herald and is the property of of Week Herald. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://weekherald.com/2018/11/10/connectone-bancorp-inc-cnob-director-sells-121249-00-in-stock.html.
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.
See Also: What is a Market Correction?
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.