12,500 Shares in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 12,500 shares of ConnectOne Bancorp, valued at approximately $304,000, signaling new institutional interest in the company.
• ConnectOne Bancorp reported a quarterly earnings per share of $0.55, exceeding analyst expectations and reflecting a net margin of 6.85%.
• The company announced a quarterly dividend of $0.18 per share, with an annualized dividend yield of 3.2%, indicating ongoing shareholder returns amidst growth forecasts.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,500 shares of the financial services provider's stock, valued at approximately $304,000.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in ConnectOne Bancorp by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,294,385 shares of the financial services provider's stock worth $52,564,000 after purchasing an additional 8,595 shares during the period. Vanguard Group Inc. boosted its position in shares of ConnectOne Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider's stock worth $49,636,000 after purchasing an additional 19,348 shares in the last quarter. Bank of America Corp DE grew its stake in ConnectOne Bancorp by 23.2% in the 4th quarter. Bank of America Corp DE now owns 826,463 shares of the financial services provider's stock worth $18,934,000 after acquiring an additional 155,573 shares during the period. Stieven Capital Advisors L.P. boosted its position in ConnectOne Bancorp by 2.9% during the 1st quarter. Stieven Capital Advisors L.P. now owns 522,982 shares of the financial services provider's stock worth $12,714,000 after purchasing an additional 14,717 shares during the period. Finally, Boothbay Fund Management LLC lifted its holdings in ConnectOne Bancorp by 14.6% in the 4th quarter. Boothbay Fund Management LLC now owns 288,363 shares of the financial services provider's stock worth $6,606,000 after buying an additional 36,690 shares in the last quarter. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ:CNOB traded down $0.14 during mid-day trading on Thursday, reaching $22.74. 82,859 shares of the company traded hands, compared to its average volume of 240,360. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $874.62 million, a PE ratio of 26.19 and a beta of 1.17. ConnectOne Bancorp, Inc. has a 52 week low of $20.61 and a 52 week high of $29.31. The company's 50 day moving average price is $23.59 and its 200-day moving average price is $23.74.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.03. The firm had revenue of $84.65 million for the quarter, compared to analyst estimates of $72.80 million. ConnectOne Bancorp had a return on equity of 7.51% and a net margin of 6.85%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be issued a $0.18 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.72 annualized dividend and a yield of 3.2%. ConnectOne Bancorp's payout ratio is 82.76%.

Insider Activity

In other news, Director Susan C. O'donnell acquired 2,691 shares of the business's stock in a transaction dated Friday, August 1st. The stock was acquired at an average price of $22.30 per share, for a total transaction of $60,009.30. Following the completion of the acquisition, the director directly owned 8,523 shares in the company, valued at $190,062.90. This represents a 46.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen T. Boswell acquired 6,200 shares of ConnectOne Bancorp stock in a transaction that occurred on Friday, August 1st. The stock was acquired 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 represents a 2.26% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 10,391 shares of company stock valued at $231,210 in the last 90 days. 6.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNOB. Hovde Group lifted their price target on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a report on Friday, April 25th.

ConnectOne Bancorp Company 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.