Hussman Strategic Advisors Inc. Makes New $2.43 Million Investment in ConnectOne Bancorp, Inc. $CNOB

Hussman Strategic Advisors Inc. purchased a new stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 105,000 shares of the financial services provider’s stock, valued at approximately $2,432,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of ConnectOne Bancorp by 16.8% during the first quarter. GAMMA Investing LLC now owns 4,002 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 575 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ConnectOne Bancorp by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock worth $524,000 after buying an additional 914 shares during the last quarter. Farther Finance Advisors LLC increased its stake in ConnectOne Bancorp by 275.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,471 shares of the financial services provider’s stock worth $34,000 after buying an additional 1,079 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of ConnectOne Bancorp by 2.1% during the first quarter. Victory Capital Management Inc. now owns 53,100 shares of the financial services provider’s stock valued at $1,291,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Webster Bank N. A. acquired a new position in shares of ConnectOne Bancorp during the second quarter valued at approximately $31,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Joseph T. Javitz sold 1,700 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $25.46, for a total value of $43,282.00. Following the transaction, the executive vice president directly owned 21,146 shares in the company, valued at approximately $538,377.16. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.24% of the stock is owned by insiders.

ConnectOne Bancorp Price Performance

CNOB stock opened at $24.21 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day simple moving average of $24.98 and a 200-day simple moving average of $24.04. The firm has a market capitalization of $1.22 billion, a PE ratio of 27.83 and a beta of 1.14. ConnectOne Bancorp, Inc. has a 1 year low of $20.61 and a 1 year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $110.78 million for the quarter, compared to the consensus estimate of $111.20 million. ConnectOne Bancorp had a return on equity of 7.12% and a net margin of 6.85%. Equities research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. ConnectOne Bancorp’s payout ratio is presently 58.06%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConnectOne Bancorp in a research note on Wednesday, October 8th. Wall Street Zen upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, ConnectOne Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.