Insider Selling: ConnectOne Bancorp Director Unloads 37,120 Shares of Stock (CNOB)
ConnectOne Bancorp (NASDAQ:CNOB) Director Howard Kent sold 37,120 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $19.31, for a total transaction of $716,787.20. Following the completion of the sale, the director now directly owns 181,418 shares of the company’s stock, valued at approximately $3,503,182. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of ConnectOne Bancorp (NASDAQ:CNOB) traded down 0.36% on Wednesday, hitting $19.36. The stock had a trading volume of 20,395 shares. ConnectOne Bancorp has a 1-year low of $13.00 and a 1-year high of $21.27. The stock’s 50-day moving average is $19. and its 200-day moving average is $18.87. The company has a market cap of $577.4 million and a price-to-earnings ratio of 17.04.
ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Friday, July 25th. The company reported $0.26 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.51 by $0.25. During the same quarter last year, the company posted $0.49 earnings per share. Analysts expect that ConnectOne Bancorp will post $1.23 EPS for the current fiscal year.
A number of analysts have recently weighed in on CNOB shares. Analysts at Raymond James reiterated a “strong-buy” rating on shares of ConnectOne Bancorp in a research note on Thursday, July 10th. 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, July 9th. 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.
ConnectOne Bancorp, Inc serves as a bank holding company for ConnectOne Bank (NASDAQ:CNOB).
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