Shell Asset Management Co. continued to hold its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,314 shares of the financial services provider’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in ConnectOne Bancorp were worth $864,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of CNOB. Legal & General Group Plc boosted its stake in shares of ConnectOne Bancorp by 9.5% in the first quarter. Legal & General Group Plc now owns 7,568 shares of the financial services provider’s stock worth $181,000 after buying an additional 659 shares in the last quarter. Karp Capital Management Corp acquired a new stake in ConnectOne Bancorp during the first quarter worth $218,000. Aperio Group LLC increased its stake in ConnectOne Bancorp by 28.2% in the second quarter. Aperio Group LLC now owns 11,542 shares of the financial services provider’s stock worth $260,000 after buying an additional 2,541 shares during the last quarter. Stifel Financial Corp acquired a new stake in ConnectOne Bancorp during the first quarter worth $287,000. Finally, Affinity Investment Advisors LLC acquired a new stake in ConnectOne Bancorp during the first quarter worth $366,000. Institutional investors own 68.08% of the company’s stock.
Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) opened at 22.95 on Thursday. The stock has a 50 day moving average of $22.66 and a 200-day moving average of $23.43. ConnectOne Bancorp, Inc. has a 52-week low of $17.02 and a 52-week high of $26.65. The firm has a market capitalization of $734.68 million, a P/E ratio of 24.89 and a beta of 0.97.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.04. ConnectOne Bancorp had a net margin of 16.42% and a return on equity of 9.37%. The firm had revenue of $36.52 million during the quarter, compared to the consensus estimate of $36.08 million. Equities analysts expect that ConnectOne Bancorp, Inc. will post $1.42 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 17th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, July 13th. ConnectOne Bancorp’s payout ratio is 32.26%.
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A number of equities research analysts have recently weighed in on CNOB shares. BidaskClub upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. ConnectOne Bancorp presently has an average rating of “Hold” and an average target price of $27.00.
In other ConnectOne Bancorp news, Director William Thompson sold 4,350 shares of the firm’s stock in a transaction on Saturday, May 27th. The shares were sold at an average price of $21.70, for a total value of $94,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank W. Baier purchased 5,000 shares of the business’s stock in a transaction on Thursday, June 1st. The stock was purchased at an average cost of $21.80 per share, with a total value of $109,000.00. Following the completion of the acquisition, the director now owns 71,891 shares in the company, valued at $1,567,223.80. The disclosure for this purchase can be found here. Over the last three months, insiders sold 9,783 shares of company stock valued at $214,562. Insiders own 7.63% of the company’s stock.
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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