ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Director Stephen T. Boswell Acquires 6,000 Shares

ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Rating) Director Stephen T. Boswell acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was purchased at an average price of $24.96 per share, for a total transaction of $149,760.00. Following the acquisition, the director now directly owns 61,657 shares in the company, valued at approximately $1,538,958.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of CNOB stock traded up $0.37 on Friday, hitting $25.37. The stock had a trading volume of 5,313 shares, compared to its average volume of 150,908. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $1.00 billion, a P/E ratio of 7.94 and a beta of 1.26. ConnectOne Bancorp, Inc. has a 1 year low of $24.17 and a 1 year high of $37.00. The company’s 50 day moving average price is $28.13 and its 200-day moving average price is $31.40.

ConnectOne Bancorp (NASDAQ:CNOBGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). ConnectOne Bancorp had a return on equity of 12.90% and a net margin of 39.81%. The company had revenue of $73.41 million for the quarter, compared to analysts’ expectations of $74.47 million. During the same quarter last year, the company earned $0.82 EPS. On average, equities analysts forecast that ConnectOne Bancorp, Inc. will post 3.08 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th were issued a dividend of $0.155 per share. This is an increase from ConnectOne Bancorp’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 13th. This represents a $0.62 annualized dividend and a yield of 2.44%. ConnectOne Bancorp’s dividend payout ratio is 19.68%.

Separately, StockNews.com assumed coverage on ConnectOne Bancorp in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in shares of ConnectOne Bancorp in the 1st quarter valued at about $29,000. Group One Trading L.P. purchased a new position in shares of ConnectOne Bancorp in the 1st quarter valued at about $32,000. Exane Derivatives purchased a new position in shares of ConnectOne Bancorp in the 4th quarter valued at about $39,000. Advisor Group Holdings Inc. increased its holdings in shares of ConnectOne Bancorp by 1,290.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,142 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 1,988 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of ConnectOne Bancorp by 190.5% in the 2nd quarter. Royal Bank of Canada now owns 7,263 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 4,763 shares during the last quarter. Institutional investors own 67.82% of the company’s stock.

About ConnectOne Bancorp (Get Rating)

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 Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts.

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