ConnectOne Bancorp, Inc. $CNOB Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,267 shares of the financial services provider’s stock after buying an additional 6,343 shares during the period. Janney Montgomery Scott LLC owned 0.14% of ConnectOne Bancorp worth $1,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CNOB. Vanguard Group Inc. raised its stake in ConnectOne Bancorp by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 2,186,965 shares of the financial services provider’s stock valued at $53,165,000 after purchasing an additional 20,408 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of ConnectOne Bancorp by 2.3% during the first quarter. American Century Companies Inc. now owns 789,760 shares of the financial services provider’s stock worth $19,199,000 after buying an additional 18,046 shares in the last quarter. Wellington Management Group LLP raised its position in shares of ConnectOne Bancorp by 52.6% in the first quarter. Wellington Management Group LLP now owns 641,171 shares of the financial services provider’s stock valued at $15,587,000 after buying an additional 221,005 shares during the last quarter. Stieven Capital Advisors L.P. lifted its stake in shares of ConnectOne Bancorp by 2.9% in the first quarter. Stieven Capital Advisors L.P. now owns 522,982 shares of the financial services provider’s stock worth $12,714,000 after buying an additional 14,717 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in ConnectOne Bancorp by 18.2% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 511,780 shares of the financial services provider’s stock worth $12,441,000 after purchasing an additional 78,750 shares in the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

Shares of CNOB opened at $24.40 on Monday. 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, Inc. has a fifty-two week low of $20.61 and a fifty-two week high of $29.31. The firm has a 50-day simple moving average of $24.82 and a 200-day simple moving average of $23.79. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 28.05 and a beta of 1.14.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.52 by $0.03. ConnectOne Bancorp had a return on equity of 7.12% and a net margin of 6.85%.The firm had revenue of $84.65 million during the quarter, compared to the consensus estimate of $72.80 million. On average, equities research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 3.0%. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 82.76%.

Insider Activity at ConnectOne Bancorp

In other news, Director Stephen T. Boswell bought 6,200 shares of ConnectOne Bancorp stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $22.23 per share, for a total transaction of $137,826.00. Following the purchase, the director owned 280,467 shares of the company’s stock, valued at approximately $6,234,781.41. The trade was a 2.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph T. Javitz sold 1,700 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $25.46, for a total transaction of $43,282.00. Following the transaction, the executive vice president owned 21,146 shares in the company, valued at approximately $538,377.16. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought a total of 10,391 shares of company stock worth $231,210 in the last three months. Insiders own 6.35% of the company’s stock.

Wall Street Analysts Forecast Growth

CNOB has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of ConnectOne Bancorp in a research report on Wednesday, October 8th. Wall Street Zen upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, ConnectOne Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $30.25.

ConnectOne Bancorp Company 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.