Bank of America Corp DE grew its holdings in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,996 shares of the financial services provider’s stock after purchasing an additional 5,827 shares during the quarter. Bank of America Corp DE owned approximately 0.29% of ConnectOne Bancorp worth $2,311,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Aperio Group LLC increased its position in shares of ConnectOne Bancorp by 4.0% during the 2nd quarter. Aperio Group LLC now owns 12,650 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 488 shares during the last quarter. Marshall Wace North America L.P. increased its position in shares of ConnectOne Bancorp by 9.0% during the 1st quarter. Marshall Wace North America L.P. now owns 5,963 shares of the financial services provider’s stock valued at $118,000 after purchasing an additional 494 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of ConnectOne Bancorp by 3.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 39,439 shares of the financial services provider’s stock valued at $894,000 after purchasing an additional 1,350 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of ConnectOne Bancorp by 2.3% during the 2nd quarter. Wells Fargo & Company MN now owns 65,801 shares of the financial services provider’s stock valued at $1,491,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of ConnectOne Bancorp during the 2nd quarter valued at $34,000. 61.17% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Frank W. Baier acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $19.99 per share, with a total value of $99,950.00. Following the acquisition, the director now owns 82,233 shares in the company, valued at approximately $1,643,837.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen T. Boswell acquired 10,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was purchased at an average cost of $20.47 per share, with a total value of $214,935.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 21,519 shares of company stock valued at $327,766. 7.58% of the stock is currently owned by insiders.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.01). ConnectOne Bancorp had a return on equity of 11.59% and a net margin of 27.54%. The firm had revenue of $47.47 million during the quarter, compared to analysts’ expectations of $47.88 million. As a group, research analysts predict that ConnectOne Bancorp Inc will post 2.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Monday, October 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.61%. The ex-dividend date is Thursday, October 10th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 16.14%.
CNOB has been the subject of several research analyst reports. Stephens raised ConnectOne Bancorp from an “equal” rating to an “overweight” rating and set a $27.00 target price for the company in a research report on Tuesday, July 9th. BidaskClub raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Finally, Zacks Investment Research raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.50.
About ConnectOne Bancorp
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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