Insider Selling: ConnectOne Bancorp Inc (CNOB) CFO Sells 941 Shares of Stock
ConnectOne Bancorp Inc (NASDAQ:CNOB) CFO William S. Burns sold 941 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $28.60, for a total value of $26,912.60. Following the sale, the chief financial officer now owns 53,204 shares in the company, valued at $1,521,634.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of ConnectOne Bancorp Inc (CNOB) opened at $28.65 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.98 and a quick ratio of 0.95. The company has a market capitalization of $902.82, a price-to-earnings ratio of 21.22 and a beta of 1.05. ConnectOne Bancorp Inc has a one year low of $21.04 and a one year high of $29.75.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.11. The business had revenue of $41.83 million for the quarter, compared to analyst estimates of $39.55 million. ConnectOne Bancorp had a return on equity of 10.30% and a net margin of 22.80%. equities analysts forecast that ConnectOne Bancorp Inc will post 2.21 earnings per share for the current year.
A number of analysts have recently issued reports on CNOB shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $32.00 price objective on shares of ConnectOne Bancorp in a research report on Thursday, October 26th. Zacks Investment Research upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research report on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $30.50 price target on shares of ConnectOne Bancorp in a research note on Wednesday, November 1st. Finally, BidaskClub lowered ConnectOne Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $112,000. Legal & General Group Plc boosted its stake in ConnectOne Bancorp by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 7,868 shares of the financial services provider’s stock valued at $177,000 after buying an additional 300 shares in the last quarter. Benchmark Capital Advisors acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $202,000. Clear Harbor Asset Management LLC acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $209,000. Finally, GSA Capital Partners LLP acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $244,000. 68.35% of the stock is currently owned by institutional investors and hedge funds.
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About ConnectOne Bancorp
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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