Raymond James Financial Services Advisors Inc. raised its position in shares of ConnectOne Bancorp Inc (NASDAQ:CNOB) by 38.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,933 shares of the financial services provider’s stock after purchasing an additional 6,966 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.08% of ConnectOne Bancorp worth $642,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in ConnectOne Bancorp during the 3rd quarter valued at $112,000. Private Advisor Group LLC bought a new position in shares of ConnectOne Bancorp in the 4th quarter worth $258,000. Teacher Retirement System of Texas bought a new position in shares of ConnectOne Bancorp in the 4th quarter worth $270,000. Virginia Retirement Systems ET AL bought a new position in shares of ConnectOne Bancorp in the 3rd quarter worth $293,000. Finally, Aperio Group LLC raised its position in shares of ConnectOne Bancorp by 26.9% in the 3rd quarter. Aperio Group LLC now owns 14,649 shares of the financial services provider’s stock worth $360,000 after acquiring an additional 3,107 shares in the last quarter. 66.54% of the stock is owned by institutional investors and hedge funds.
ConnectOne Bancorp Inc (NASDAQ:CNOB) opened at $30.75 on Thursday. ConnectOne Bancorp Inc has a one year low of $21.04 and a one year high of $31.40. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $999.04, a price-to-earnings ratio of 22.78 and a beta of 1.03.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.11. ConnectOne Bancorp had a return on equity of 10.22% and a net margin of 22.80%. The firm had revenue of $41.83 million for the quarter, compared to the consensus estimate of $39.55 million. analysts predict that ConnectOne Bancorp Inc will post 2.21 earnings per share for the current year.
Several research analysts have recently commented on the company. Zacks Investment Research raised ConnectOne Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a research report on Tuesday. BidaskClub raised ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. ValuEngine raised ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $36.00 price target on shares of ConnectOne Bancorp in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. ConnectOne Bancorp presently has an average rating of “Buy” and an average price target of $34.17.
In related news, CFO William S. Burns sold 941 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $28.60, for a total transaction of $26,912.60. Following the transaction, the chief financial officer now directly owns 53,204 shares in the company, valued at approximately $1,521,634.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Frank Sorrentino III sold 2,174 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $28.45, for a total value of $61,850.30. Following the transaction, the chairman now owns 593,980 shares in the company, valued at $16,898,731. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,983 shares of company stock worth $113,727. 7.63% of the stock is owned by company insiders.
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ConnectOne Bancorp Company Profile
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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