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 shares were sold at an average price of $21.46, for a total value of $121,249.00. Following the sale, the director now directly owns 374,426 shares of the company’s stock, valued at $8,035,181.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

CNOB opened at $21.26 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.00 and a debt-to-equity ratio of 0.22. The company has a market cap of $695.74 million, a price-to-earnings ratio of 10.04 and a beta of 0.93. ConnectOne Bancorp Inc has a 52 week low of $19.30 and a 52 week high of $31.40.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $41.39 million during the quarter, compared to the consensus estimate of $41.52 million. ConnectOne Bancorp had a return on equity of 12.07% and a net margin of 24.26%. On average, equities research analysts expect that ConnectOne Bancorp Inc will post 2.16 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC increased its position in ConnectOne Bancorp by 47.2% during the 2nd quarter. Citadel Advisors LLC now owns 68,304 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 21,893 shares during the period. BlackRock Inc. increased its position in ConnectOne Bancorp by 6.1% during the 2nd quarter. BlackRock Inc. now owns 1,878,862 shares of the financial services provider’s stock worth $46,783,000 after purchasing an additional 107,680 shares during the period. Millennium Management LLC increased its position in ConnectOne Bancorp by 61.6% during the 2nd quarter. Millennium Management LLC now owns 282,953 shares of the financial services provider’s stock worth $7,046,000 after purchasing an additional 107,863 shares during the period. Bank of America Corp DE increased its position in ConnectOne Bancorp by 25.3% during the 2nd quarter. Bank of America Corp DE now owns 193,888 shares of the financial services provider’s stock worth $4,828,000 after purchasing an additional 39,200 shares during the period. Finally, Monarch Partners Asset Management LLC increased its position in ConnectOne Bancorp by 11.5% during the 3rd quarter. Monarch Partners Asset Management LLC now owns 359,605 shares of the financial services provider’s stock worth $8,541,000 after purchasing an additional 37,095 shares during the period. Institutional investors own 66.88% of the company’s stock.

CNOB has been the subject of several analyst reports. Zacks Investment Research downgraded ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. BidaskClub raised ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 11th. Finally, ValuEngine downgraded ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $35.33.

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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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