ConnectOne Bancorp, Inc. (CNOB) Shares Bought by John W. Rosenthal Capital Management Inc.
John W. Rosenthal Capital Management Inc. raised its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 40.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,000 shares of the financial services provider’s stock after buying an additional 20,000 shares during the period. John W. Rosenthal Capital Management Inc. owned approximately 0.22% of ConnectOne Bancorp worth $1,579,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake in ConnectOne Bancorp by 4.0% in the second quarter. Legal & General Group Plc now owns 7,868 shares of the financial services provider’s stock worth $177,000 after buying an additional 300 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ConnectOne Bancorp by 1.0% in the first quarter. Wells Fargo & Company MN now owns 30,230 shares of the financial services provider’s stock valued at $733,000 after buying an additional 314 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of ConnectOne Bancorp by 3.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 23,905 shares of the financial services provider’s stock valued at $580,000 after buying an additional 800 shares in the last quarter. First Trust Advisors LP raised its stake in shares of ConnectOne Bancorp by 1.0% in the first quarter. First Trust Advisors LP now owns 83,451 shares of the financial services provider’s stock valued at $2,024,000 after buying an additional 829 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its stake in shares of ConnectOne Bancorp by 6.3% in the second quarter. Alpine Woods Capital Investors LLC now owns 17,000 shares of the financial services provider’s stock valued at $383,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 68.35% of the company’s stock.
Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) traded down 1.09% during mid-day trading on Monday, hitting $22.60. The company had a trading volume of 3,545 shares. The firm’s 50-day moving average price is $22.65 and its 200 day moving average price is $23.21. The company has a market capitalization of $721.23 million, a P/E ratio of 24.57 and a beta of 0.97. ConnectOne Bancorp, Inc. has a one year low of $17.40 and a one year high of $26.65.
ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $36.52 million during the quarter, compared to analysts’ expectations of $36.08 million. ConnectOne Bancorp had a net margin of 16.42% and a return on equity of 9.37%. Analysts predict that ConnectOne Bancorp, Inc. will post $1.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 17th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Thursday, July 13th. ConnectOne Bancorp’s dividend payout ratio is currently 32.26%.
Separately, BidaskClub lowered ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. ConnectOne Bancorp has an average rating of “Hold” and a consensus price target of $27.00.
In other ConnectOne Bancorp news, Director Frank W. Baier acquired 5,000 shares of ConnectOne Bancorp stock in a transaction dated Thursday, June 1st. The stock was purchased at an average cost of $21.80 per share, for a total transaction of $109,000.00. Following the completion of the acquisition, the director now directly owns 71,891 shares of the company’s stock, valued at $1,567,223.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Frank Sorrentino III sold 2,445 shares of ConnectOne Bancorp stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $21.85, for a total transaction of $53,423.25. Following the transaction, the chairman now owns 566,410 shares of the company’s stock, valued at $12,376,058.50. The disclosure for this sale can be found here. Insiders have sold 5,433 shares of company stock valued at $120,167 over the last quarter. Corporate insiders own 7.63% of the company’s stock.
About ConnectOne Bancorp
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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