Blair William & Co. IL Buys Shares of 33,570 ConnectOne Bancorp, Inc. $CNOB

Blair William & Co. IL bought a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 33,570 shares of the financial services provider's stock, valued at approximately $777,000. Blair William & Co. IL owned approximately 0.09% of ConnectOne Bancorp at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. acquired a new stake in ConnectOne Bancorp during the second quarter worth about $31,000. Farther Finance Advisors LLC grew its position in ConnectOne Bancorp by 275.3% during the second quarter. Farther Finance Advisors LLC now owns 1,471 shares of the financial services provider's stock worth $34,000 after buying an additional 1,079 shares in the last quarter. Quarry LP acquired a new stake in ConnectOne Bancorp during the first quarter worth about $88,000. GAMMA Investing LLC grew its position in ConnectOne Bancorp by 16.8% during the first quarter. GAMMA Investing LLC now owns 4,002 shares of the financial services provider's stock worth $97,000 after buying an additional 575 shares in the last quarter. Finally, Efficient Advisors LLC acquired a new stake in ConnectOne Bancorp during the first quarter worth about $202,000. 67.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Susan C. O'donnell bought 2,691 shares of ConnectOne Bancorp stock in a transaction that occurred on Friday, August 1st. The stock was purchased at an average cost of $22.30 per share, with a total value of $60,009.30. Following the purchase, the director owned 8,523 shares in the company, valued at approximately $190,062.90. This trade represents a 46.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen T. Boswell bought 6,200 shares of ConnectOne Bancorp stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $22.23 per share, with a total value of $137,826.00. Following the completion of the purchase, the director owned 280,467 shares in the company, valued at approximately $6,234,781.41. This trade represents a 2.26% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 10,391 shares of company stock valued at $231,210. Company insiders own 6.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNOB shares. Weiss Ratings restated a "hold (c)" rating on shares of ConnectOne Bancorp in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, ConnectOne Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.25.

ConnectOne Bancorp Stock Performance

CNOB stock opened at $23.29 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50 day moving average price of $24.98 and a 200 day moving average price of $23.81. ConnectOne Bancorp, Inc. has a fifty-two week low of $20.61 and a fifty-two week high of $29.31. The stock has a market capitalization of $1.17 billion, a PE ratio of 26.77 and a beta of 1.14.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. ConnectOne Bancorp had a net margin of 6.85% and a return on equity of 7.12%. The firm had revenue of $84.65 million during the quarter, compared to analysts' expectations of $72.80 million. Analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a $0.18 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 3.1%. ConnectOne Bancorp's dividend payout ratio is presently 82.76%.

ConnectOne Bancorp Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.

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