20,585 Shares of ConnectOne Bancorp, Inc. $CNOB Acquired by CenterBook Partners LP

CenterBook Partners LP acquired a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 20,585 shares of the financial services provider’s stock, valued at approximately $619,000.

Several other large investors also recently added to or reduced their stakes in CNOB. Sterling Capital Management LLC raised its position in ConnectOne Bancorp by 45.4% during the third quarter. Sterling Capital Management LLC now owns 1,124 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 351 shares during the period. Allworth Financial LP lifted its stake in shares of ConnectOne Bancorp by 32.4% in the 2nd quarter. Allworth Financial LP now owns 1,557 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 381 shares during the last quarter. Kestra Advisory Services LLC lifted its stake in shares of ConnectOne Bancorp by 0.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 98,624 shares of the financial services provider’s stock valued at $2,964,000 after purchasing an additional 480 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of ConnectOne Bancorp by 13.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,653 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 566 shares during the period. Finally, Nykredit A S purchased a new position in shares of ConnectOne Bancorp in the 2nd quarter worth approximately $39,000. 67.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CNOB has been the topic of several analyst reports. Zacks Research raised ConnectOne Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 4th. Raymond James Financial upgraded ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a report on Monday, October 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ConnectOne Bancorp in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $35.75.

Insider Transactions at ConnectOne Bancorp

In other ConnectOne Bancorp news, insider Elizabeth Magennis sold 6,900 shares of the firm’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $32.67, for a total value of $225,423.00. Following the completion of the sale, the insider owned 137,383 shares of the company’s stock, valued at $4,488,302.61. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.24% of the stock is currently owned by insiders.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $32.86 on Thursday. The firm has a 50-day moving average price of $31.47 and a 200-day moving average price of $30.25. The firm has a market capitalization of $1.65 billion, a PE ratio of 11.49 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 0.99 and a debt-to-equity ratio of 0.86. ConnectOne Bancorp, Inc. has a 12-month low of $23.20 and a 12-month high of $34.14.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The firm had revenue of $127.23 million during the quarter, compared to analysts’ expectations of $125.36 million. ConnectOne Bancorp had a net margin of 18.97% and a return on equity of 11.96%. As a group, equities research analysts forecast that ConnectOne Bancorp, Inc. will post 3.29 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.1950 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. ConnectOne Bancorp’s dividend payout ratio is 27.27%.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc. is a bank holding company whose principal subsidiary is ConnectOne Bank. The bank provides commercial and consumer banking services to businesses, professionals, and individuals, including deposit accounts, business and personal loans, and cash-management and digital banking services. Its lending activities include commercial real estate and commercial and industrial financing, alongside residential mortgage and consumer lending. ConnectOne also offers treasury-management services to help business clients manage payments, liquidity, and other financial operations.