Pacific Ridge Capital Partners LLC boosted its holdings in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 76,090 shares of the financial services provider’s stock after purchasing an additional 6,550 shares during the quarter. Pacific Ridge Capital Partners LLC owned about 0.24% of ConnectOne Bancorp worth $1,807,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CNOB. First Trust Advisors LP boosted its holdings in ConnectOne Bancorp by 141.8% in the second quarter. First Trust Advisors LP now owns 159,828 shares of the financial services provider’s stock valued at $3,980,000 after purchasing an additional 93,738 shares in the last quarter. Bowling Portfolio Management LLC acquired a new position in ConnectOne Bancorp in the second quarter valued at approximately $1,025,000. Monarch Partners Asset Management LLC boosted its holdings in ConnectOne Bancorp by 19.4% in the second quarter. Monarch Partners Asset Management LLC now owns 322,510 shares of the financial services provider’s stock valued at $8,030,000 after purchasing an additional 52,472 shares in the last quarter. Seidman Lawrence B acquired a new position in ConnectOne Bancorp in the second quarter valued at approximately $1,048,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in ConnectOne Bancorp by 6.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 153,986 shares of the financial services provider’s stock valued at $3,835,000 after purchasing an additional 9,769 shares in the last quarter. 66.92% of the stock is owned by hedge funds and other institutional investors.
CNOB stock opened at $18.51 on Friday. The company has a market capitalization of $599.98 million, a PE ratio of 10.58 and a beta of 0.89. ConnectOne Bancorp Inc has a twelve month low of $18.11 and a twelve month high of $31.40. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.
ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The business had revenue of $41.39 million during the quarter, compared to the consensus estimate of $41.52 million. ConnectOne Bancorp had a return on equity of 12.07% and a net margin of 24.26%. On average, sell-side analysts predict that ConnectOne Bancorp Inc will post 2.17 EPS for the current year.
In related news, Director Frank Huttle III sold 4,250 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $20.02, for a total transaction of $85,085.00. Following the completion of the sale, the director now directly owns 194,849 shares of the company’s stock, valued at $3,900,876.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen T. Boswell purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were bought at an average cost of $20.83 per share, with a total value of $312,450.00. The disclosure for this purchase can be found here. Insiders sold 14,600 shares of company stock valued at $307,149 over the last three months. Corporate insiders own 7.67% of the company’s stock.
CNOB has been the subject of a number of research analyst reports. BidaskClub downgraded ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a report on Friday, August 31st. Zacks Investment Research downgraded ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, November 6th. Finally, ValuEngine downgraded ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, October 22nd. Three analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. ConnectOne Bancorp presently has an average rating of “Hold” and a consensus price target of $35.33.
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ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, and NOW accounts.
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