Farther Finance Advisors LLC Acquires 1,079 Shares of ConnectOne Bancorp, Inc. $CNOB

Farther Finance Advisors LLC raised its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 275.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,471 shares of the financial services provider’s stock after buying an additional 1,079 shares during the period. Farther Finance Advisors LLC’s holdings in ConnectOne Bancorp were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CNOB. GAMMA Investing LLC lifted its position in shares of ConnectOne Bancorp by 16.8% during the first quarter. GAMMA Investing LLC now owns 4,002 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 575 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of ConnectOne Bancorp by 30.3% during the first quarter. Envestnet Asset Management Inc. now owns 205,792 shares of the financial services provider’s stock valued at $5,003,000 after purchasing an additional 47,894 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of ConnectOne Bancorp by 2.1% during the first quarter. Victory Capital Management Inc. now owns 53,100 shares of the financial services provider’s stock valued at $1,291,000 after purchasing an additional 1,100 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of ConnectOne Bancorp during the first quarter valued at about $281,000. Finally, Stieven Capital Advisors L.P. lifted its position in shares of ConnectOne Bancorp by 2.9% during the first quarter. Stieven Capital Advisors L.P. now owns 522,982 shares of the financial services provider’s stock valued at $12,714,000 after purchasing an additional 14,717 shares in the last quarter. 67.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Susan C. O’donnell acquired 2,691 shares of ConnectOne Bancorp stock in a transaction on Friday, August 1st. The stock was acquired at an average cost of $22.30 per share, for a total transaction of $60,009.30. Following the purchase, the director owned 8,523 shares in the company, valued at $190,062.90. This trade represents a 46.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen T. Boswell purchased 6,200 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were bought at an average cost of $22.23 per share, for a total transaction of $137,826.00. Following the acquisition, the director owned 280,467 shares in the company, valued at approximately $6,234,781.41. The trade was a 2.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 10,391 shares of company stock valued at $231,210. 6.35% of the stock is currently owned by corporate insiders.

ConnectOne Bancorp Price Performance

Shares of ConnectOne Bancorp stock opened at $25.52 on Wednesday. ConnectOne Bancorp, Inc. has a 52-week low of $20.61 and a 52-week high of $29.31. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 29.33 and a beta of 1.14. The company has a fifty day moving average of $24.70 and a 200-day moving average of $23.78. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.97 and a current ratio of 0.97.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $84.65 million during the quarter, compared to analyst estimates of $72.80 million. ConnectOne Bancorp had a net margin of 6.85% and a return on equity of 7.12%. Equities research analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, August 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. ConnectOne Bancorp’s payout ratio is presently 82.76%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings restated a “hold (c)” rating on shares of ConnectOne Bancorp in a report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.25.

ConnectOne Bancorp Profile

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.