ConnectOne Bancorp Inc. (CNOB) Sees Unusually-High Trading Volume
Shares of ConnectOne Bancorp Inc. (NASDAQ:CNOB) saw unusually-strong trading volume on Friday . Approximately 111,847 shares changed hands during trading, an increase of 79% from the previous session’s volume of 62,613 shares.The stock last traded at $17.24 and had previously closed at $16.78.
A number of equities research analysts recently weighed in on CNOB shares. FBR & Co restated a “buy” rating and set a $21.00 price objective on shares of ConnectOne Bancorp in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “sell” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Tuesday, May 3rd.
The firm has a market cap of $521.20 million and a PE ratio of 12.60. The company has a 50 day moving average of $16.15 and a 200 day moving average of $16.13.
ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Friday, July 22nd. The financial services provider reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.07. On average, equities analysts anticipate that ConnectOne Bancorp Inc. will post $1.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 18th were paid a $0.075 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.74%.
In related news, CEO Frank Sorrentino III sold 6,095 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 559,886 shares in the company, valued at $8,963,774.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
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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