ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Director Buys $137,826.00 in Stock

Key Points

• Director Stephen T. Boswell purchased 6,200 shares of ConnectOne Bancorp (NASDAQ:CNOB) stock for an average price of $22.23, increasing his total ownership to 280,467 shares.
• ConnectOne Bancorp reported $0.55 EPS for the quarter, exceeding analyst expectations of $0.52, with quarterly revenue of $84.65 million.
• The company announced a quarterly dividend of $0.18 per share, payable on September 2, with a current dividend yield of 3.2%.

ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Get Free Report) Director Stephen T. Boswell purchased 6,200 shares of the business's stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $22.23 per share, with a total value of $137,826.00. Following the completion of the acquisition, the director owned 280,467 shares of the company's stock, valued at approximately $6,234,781.41. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ConnectOne Bancorp Stock Performance

Shares of CNOB traded up $0.14 on Friday, reaching $22.83. 203,782 shares of the stock traded hands, compared to its average volume of 354,589. The firm has a market cap of $878.27 million, a price-to-earnings ratio of 26.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp, Inc. has a 12 month low of $20.61 and a 12 month high of $29.31. The stock's 50-day moving average price is $23.58 and its 200-day moving average price is $23.74.

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

ConnectOne Bancorp Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CNOB. Hovde Group boosted their price objective on ConnectOne Bancorp from $29.00 to $29.50 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their price objective on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd.

Institutional Trading of ConnectOne Bancorp

A number of large investors have recently bought and sold shares of CNOB. Sterling Capital Management LLC grew its holdings in shares of ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock worth $27,000 after purchasing an additional 1,030 shares during the last quarter. Webster Bank N. A. bought a new stake in shares of ConnectOne Bancorp during the second quarter worth $31,000. Farther Finance Advisors LLC grew its holdings in shares of 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 purchasing an additional 1,079 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ConnectOne Bancorp by 107.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,842 shares of the financial services provider's stock worth $43,000 after purchasing an additional 956 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $62,000. 67.70% of the stock is currently owned by institutional investors.

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.