ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Algert Global LLC

Algert Global LLC cut its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,496 shares of the financial services provider’s stock after selling 478 shares during the quarter. Algert Global LLC owned 0.12% of ConnectOne Bancorp worth $859,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC lifted its holdings in shares of ConnectOne Bancorp by 206.8% during the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 757 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of ConnectOne Bancorp by 6.7% during the second quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock worth $332,000 after purchasing an additional 1,131 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConnectOne Bancorp by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock worth $719,000 after purchasing an additional 1,535 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of ConnectOne Bancorp by 8.2% during the second quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 1,606 shares during the period. Finally, Salzhauer Michael lifted its holdings in shares of ConnectOne Bancorp by 3.9% during the first quarter. Salzhauer Michael now owns 65,656 shares of the financial services provider’s stock worth $1,280,000 after purchasing an additional 2,480 shares during the period. 67.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CNOB shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Piper Sandler increased their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

ConnectOne Bancorp Trading Up 2.7 %

NASDAQ:CNOB opened at $25.08 on Friday. The stock has a fifty day moving average price of $23.89 and a two-hundred day moving average price of $20.90. The stock has a market capitalization of $961.39 million, a price-to-earnings ratio of 13.27 and a beta of 1.25. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. ConnectOne Bancorp, Inc. has a 1 year low of $14.51 and a 1 year high of $26.53.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. ConnectOne Bancorp had a return on equity of 7.13% and a net margin of 14.56%. The business had revenue of $134.41 million during the quarter, compared to analysts’ expectations of $64.62 million. During the same quarter last year, the business posted $0.51 earnings per share. As a group, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 1.76 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, August 15th. ConnectOne Bancorp’s dividend payout ratio is currently 38.10%.

About ConnectOne Bancorp

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.