ConnectOne Bancorp Inc. (CNOB) Sees Large Volume Increase
ConnectOne Bancorp Inc. (NASDAQ:CNOB) saw unusually-high trading volume on Wednesday . Approximately 71,237 shares traded hands 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 analyst reports. Zacks Investment Research upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. FBR & Co began coverage on ConnectOne Bancorp in a report on Wednesday, June 1st. They set an “outperform” rating and a $21.00 price target on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $21.25.
The company has a market cap of $503.99 million and a P/E ratio of 12.28. The firm has a 50 day moving average of $15.81 and a 200 day moving average of $16.18.
ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.07. Analysts expect that ConnectOne Bancorp Inc. will post $1.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 18th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Thursday, July 14th.
In other ConnectOne Bancorp news, Director Nicholas Minoia acquired 1,500 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were acquired at an average price of $16.92 per share, for a total transaction of $25,380.00. Following the completion of the acquisition, the director now directly owns 22,607 shares of the company’s stock, valued at $382,510.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Frank Sorrentino III sold 6,095 shares of the firm’s stock in a transaction on 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 in the company, 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.
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