ConnectOne Bancorp (CNOB) Scheduled to Post Quarterly Earnings on Thursday

ConnectOne Bancorp (NASDAQ:CNOBGet Rating) is scheduled to issue its quarterly earnings data before the market opens on Thursday, January 26th. Analysts expect the company to announce earnings of $0.82 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

ConnectOne Bancorp (NASDAQ:CNOBGet Rating) last posted its earnings results on Thursday, October 27th. The financial services provider reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.07). The company had revenue of $81.48 million for the quarter, compared to the consensus estimate of $79.27 million. ConnectOne Bancorp had a return on equity of 12.23% and a net margin of 35.52%. On average, analysts expect ConnectOne Bancorp to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ConnectOne Bancorp Price Performance

Shares of NASDAQ:CNOB opened at $24.50 on Wednesday. The firm has a market cap of $961.45 million, a PE ratio of 8.11 and a beta of 1.21. The firm’s fifty day moving average is $24.95 and its 200-day moving average is $25.05. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.01. ConnectOne Bancorp has a 52 week low of $22.55 and a 52 week high of $35.91.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 1st. Stockholders of record on Monday, November 14th were issued a dividend of $0.155 per share. The ex-dividend date of this dividend was Thursday, November 10th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.53%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 20.53%.

Insider Activity at ConnectOne Bancorp

In other news, Director Stephen T. Boswell bought 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were acquired at an average price of $24.88 per share, for a total transaction of $199,040.00. Following the completion of the acquisition, the director now directly owns 249,103 shares in the company, valued at $6,197,682.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On ConnectOne Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CNOB. BlackRock Inc. raised its holdings in shares of ConnectOne Bancorp by 1.5% during the third quarter. BlackRock Inc. now owns 2,967,739 shares of the financial services provider’s stock valued at $68,435,000 after purchasing an additional 44,894 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ConnectOne Bancorp by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,367,016 shares of the financial services provider’s stock valued at $75,768,000 after purchasing an additional 30,583 shares during the period. Vanguard Group Inc. raised its holdings in shares of ConnectOne Bancorp by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,892,237 shares of the financial services provider’s stock valued at $43,635,000 after purchasing an additional 12,193 shares during the period. State Street Corp raised its holdings in shares of ConnectOne Bancorp by 9.6% during the first quarter. State Street Corp now owns 1,067,558 shares of the financial services provider’s stock valued at $34,173,000 after purchasing an additional 93,377 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of ConnectOne Bancorp by 67.7% during the second quarter. Millennium Management LLC now owns 608,134 shares of the financial services provider’s stock valued at $14,869,000 after purchasing an additional 245,553 shares during the period. Institutional investors and hedge funds own 67.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Raymond James reiterated a “market perform” rating on shares of ConnectOne Bancorp in a report on Thursday, December 22nd. StockNews.com lowered shares of ConnectOne Bancorp from a “buy” rating to a “hold” rating in a report on Monday, November 21st. Finally, Piper Sandler cut their price target on shares of ConnectOne Bancorp to $29.00 in a report on Wednesday, October 5th.

About ConnectOne Bancorp

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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.

See Also

Earnings History for ConnectOne Bancorp (NASDAQ:CNOB)

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