ConnectOne Bancorp (CNOB) Scheduled to Post Earnings on Thursday

ConnectOne Bancorp (NASDAQ:CNOB) will be announcing its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.42 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $66.03 million for the quarter, compared to the consensus estimate of $65.50 million. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. On average, analysts expect ConnectOne Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ConnectOne Bancorp Price Performance

NASDAQ CNOB opened at $18.00 on Thursday. The company has a market cap of $689.94 million, a PE ratio of 8.70 and a beta of 1.25. ConnectOne Bancorp has a 52 week low of $13.11 and a 52 week high of $24.44. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm’s 50-day simple moving average is $19.38 and its two-hundred day simple moving average is $20.01.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Wednesday, February 14th. ConnectOne Bancorp’s dividend payout ratio is presently 32.85%.

Institutional Trading of ConnectOne Bancorp

Hedge funds have recently bought and sold shares of the company. US Bancorp DE raised its stake in shares of ConnectOne Bancorp by 98.6% in the second quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock worth $28,000 after buying an additional 840 shares during the period. Point72 Hong Kong Ltd purchased a new position in ConnectOne Bancorp during the first quarter valued at approximately $29,000. Group One Trading L.P. bought a new position in shares of ConnectOne Bancorp in the first quarter worth approximately $32,000. Osaic Holdings Inc. increased its stake in shares of ConnectOne Bancorp by 315.3% in the second quarter. Osaic Holdings Inc. now owns 11,192 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 8,497 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of ConnectOne Bancorp by 69.4% during the 3rd quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 866 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Wall Street Analyst Weigh In

CNOB has been the topic of a number of recent research reports. Raymond James increased their price target on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods lifted their price objective on ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Piper Sandler boosted their target price on ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.25.

About ConnectOne Bancorp

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.