ConnectOne Bancorp Inc. (CNOB) Sees Strong Trading Volume
ConnectOne Bancorp Inc. (NASDAQ:CNOB) shares saw unusually-high trading volume on Wednesday . Approximately 71,237 shares were traded during mid-day trading, an increase of 8% from the previous session’s volume of 66,143 shares.The stock last traded at $16.24 and had previously closed at $16.37.
CNOB has been the topic of several research reports. Zacks Investment Research lowered ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 11th. FBR & Co initiated coverage on ConnectOne Bancorp in a report on Wednesday, June 1st. They issued an “outperform” rating and a $21.00 target price on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. ConnectOne Bancorp presently has a consensus rating of “Buy” and a consensus target price of $21.25.
The firm’s 50 day moving average is $15.81 and its 200-day moving average is $16.18. The stock has a market cap of $485.58 million and a P/E ratio of 11.83.
ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Tuesday, April 26th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.08. On average, equities research analysts forecast that ConnectOne Bancorp Inc. will post $1.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 18th will be paid a $0.075 dividend. The ex-dividend date is Thursday, July 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.86%.
In related news, Director Nicholas Minoia purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The stock was bought at an average price of $16.92 per share, for a total transaction of $25,380.00. Following the purchase, the director now owns 22,607 shares in the company, valued at approximately $382,510.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frank Sorrentino III sold 6,095 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $16.01, for a total value of $97,580.95. Following the sale, the chief executive officer now owns 559,886 shares of the company’s stock, valued at approximately $8,963,774.86. The disclosure for this sale can be found here.
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank), a New Jersey-chartered commercial bank. The Company operates in community bank segment. The Bank offers a range of deposit and loan products, and services to the general public, small and middle-sized businesses, local professionals, and individuals residing, working and conducting business in its trade area.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.