ConnectOne Bancorp Inc. (CNOB) Sees Strong Trading Volume
Shares of ConnectOne Bancorp Inc. (NASDAQ:CNOB) saw unusually-high trading volume on Friday . Approximately 111,847 shares were traded 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.
CNOB has been the topic of a number of recent analyst reports. Zacks Investment Research cut ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. FBR & Co initiated coverage on shares of ConnectOne Bancorp in a research note on Wednesday, June 1st. They set an “outperform” rating and a $21.00 price objective on the stock.
The company has a market cap of $521.20 million and a price-to-earnings ratio of 12.60. The company’s 50-day moving average price is $16.15 and its 200-day moving average price is $16.13.
ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Friday, July 22nd. The financial services provider reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.07. Equities research analysts expect that ConnectOne Bancorp Inc. will post $1.42 EPS for the current fiscal year.
The firm 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 yield of 1.74%.
In related news, CEO Frank Sorrentino III sold 6,095 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were 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 $8,963,774.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
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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