ConnectOne Bancorp, Inc. (NASDAQ:CNOB) – Piper Sandler increased their Q2 2021 earnings per share (EPS) estimates for shares of ConnectOne Bancorp in a report issued on Sunday, May 2nd. Piper Sandler analyst F. Schiraldi now expects that the financial services provider will post earnings of $0.69 per share for the quarter, up from their previous estimate of $0.58. Piper Sandler also issued estimates for ConnectOne Bancorp’s Q3 2021 earnings at $0.66 EPS, Q4 2021 earnings at $0.67 EPS, Q1 2022 earnings at $0.62 EPS, Q2 2022 earnings at $0.64 EPS, Q3 2022 earnings at $0.67 EPS, Q4 2022 earnings at $0.67 EPS and FY2022 earnings at $2.60 EPS.

Several other research analysts also recently commented on CNOB. Raymond James lifted their target price on shares of ConnectOne Bancorp from $21.00 to $28.00 and gave the stock a “strong-buy” rating in a report on Friday, January 29th. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, April 14th. Finally, Seaport Global Securities assumed coverage on shares of ConnectOne Bancorp in a research report on Thursday, February 25th. They issued a “buy” rating and a $27.00 price target on the stock. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $25.50.

Shares of CNOB opened at $27.90 on Tuesday. The company has a market capitalization of $1.11 billion, a PE ratio of 16.13 and a beta of 1.41. ConnectOne Bancorp has a one year low of $10.81 and a one year high of $28.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $26.03 and its 200 day moving average price is $21.71.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Wednesday, April 28th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.67 by $0.15. ConnectOne Bancorp had a net margin of 21.17% and a return on equity of 9.63%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of ConnectOne Bancorp by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 231,855 shares of the financial services provider’s stock worth $4,589,000 after acquiring an additional 994 shares during the last quarter. Aperio Group LLC raised its stake in shares of ConnectOne Bancorp by 9.0% during the fourth quarter. Aperio Group LLC now owns 17,823 shares of the financial services provider’s stock worth $353,000 after buying an additional 1,474 shares during the last quarter. Sei Investments Co. raised its stake in shares of ConnectOne Bancorp by 1.3% during the fourth quarter. Sei Investments Co. now owns 127,793 shares of the financial services provider’s stock worth $2,529,000 after buying an additional 1,639 shares during the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of ConnectOne Bancorp during the first quarter worth approximately $49,000. Finally, Susquehanna International Group LLP raised its stake in shares of ConnectOne Bancorp by 6.9% during the fourth quarter. Susquehanna International Group LLP now owns 57,052 shares of the financial services provider’s stock worth $1,129,000 after buying an additional 3,688 shares during the last quarter. 60.12% of the stock is owned by institutional investors.

In other ConnectOne Bancorp news, Director Michael W. Kempner sold 22,000 shares of the business’s stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $22.50, for a total value of $495,000.00. Following the transaction, the director now directly owns 355,491 shares in the company, valued at $7,998,547.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. 7.52% of the stock is owned by insiders.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Monday, May 17th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, May 14th. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. ConnectOne Bancorp’s payout ratio is 16.00%.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a chartered commercial bank that provides various commercial banking products and services. The company's deposit products include personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.

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Earnings History and Estimates for ConnectOne Bancorp (NASDAQ:CNOB)

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