ConnectOne Bancorp Director Sells $43,894,400 in Stock (CNOB)
ConnectOne Bancorp (NASDAQ:CNOB) Director Lawrence B. Seidman sold 2,365,000 shares of ConnectOne Bancorp stock on the open market in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $18.56, for a total transaction of $43,894,400.00. Following the completion of the sale, the director now directly owns 32,718 shares of the company’s stock, valued at approximately $607,246. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
CNOB has been the subject of a number of recent research reports. Analysts at Raymond James reiterated a “strong-buy” rating on shares of ConnectOne Bancorp in a research note on Thursday. They now have a $23.00 price target on the stock, down previously from $60.00. Separately, analysts at Guggenheim initiated coverage on shares of ConnectOne Bancorp in a research note on Wednesday. They set a “buy” rating and a $24.00 price target on the stock. Finally, analysts at Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of ConnectOne Bancorp in a research note on Tuesday, July 1st. They now have a $23.00 price target on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $21.34.
Shares of ConnectOne Bancorp (NASDAQ:CNOB) traded down 0.89% during mid-day trading on Friday, hitting $19.03. The stock had a trading volume of 20,497 shares. ConnectOne Bancorp has a 52 week low of $13.00 and a 52 week high of $21.27. The stock has a 50-day moving average of $18.89 and a 200-day moving average of $18.5. The company has a market cap of $312.1 million and a price-to-earnings ratio of 16.27.
ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings data on Thursday, April 24th. The company reported $0.27 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.29 by $0.02. Analysts expect that ConnectOne Bancorp will post $1.42 EPS for the current fiscal year.
The company also recently declared a dividend, which is scheduled for Friday, August 1st. Investors of record on Friday, July 11th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Wednesday, July 9th.
ConnectOne Bancorp, Inc serves as a bank holding company for ConnectOne Bank (NASDAQ:CNOB).
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