ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Free Report) saw a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 844,400 shares, a drop of 17.2% from the June 15th total of 1,020,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 152,300 shares, the days-to-cover ratio is presently 5.5 days.
ConnectOne Bancorp Trading Down 1.0 %
NASDAQ CNOB traded down $0.21 on Friday, hitting $19.92. The company’s stock had a trading volume of 189,470 shares, compared to its average volume of 188,405. ConnectOne Bancorp has a 52-week low of $14.51 and a 52-week high of $24.44. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The company’s 50-day simple moving average is $18.92 and its 200 day simple moving average is $19.88. The firm has a market cap of $763.53 million, a P/E ratio of 10.54 and a beta of 1.27.
ConnectOne Bancorp (NASDAQ:CNOB – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). ConnectOne Bancorp had a return on equity of 7.39% and a net margin of 15.29%. The business had revenue of $64.15 million during the quarter, compared to analysts’ expectations of $63.93 million. Research analysts predict that ConnectOne Bancorp will post 1.66 EPS for the current fiscal year.
ConnectOne Bancorp Increases Dividend
Analyst Ratings Changes
Several equities research analysts have recently commented on CNOB shares. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $22.00 price target (down previously from $24.00) on shares of ConnectOne Bancorp in a research report on Friday, May 31st. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.
View Our Latest Report on ConnectOne Bancorp
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its stake in shares of ConnectOne Bancorp by 206.8% in the 4th quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after buying an additional 757 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth about $53,000. GAMMA Investing LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth about $80,000. Quest Partners LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth about $165,000. Finally, Bryn Mawr Capital Management LLC bought a new stake in ConnectOne Bancorp during the fourth quarter worth approximately $207,000. Institutional investors own 67.70% of the company’s stock.
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.
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