B. Riley Wealth Advisors Inc. Acquires 40,334 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

B. Riley Wealth Advisors Inc. boosted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 196.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,903 shares of the financial services provider’s stock after buying an additional 40,334 shares during the period. B. Riley Wealth Advisors Inc. owned 0.16% of ConnectOne Bancorp worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in CNOB. Parallel Advisors LLC boosted its holdings 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 valued at $26,000 after buying an additional 757 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of ConnectOne Bancorp by 4.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 1,535 shares during the last quarter. Trexquant Investment LP grew its stake in ConnectOne Bancorp by 11.2% during the 4th quarter. Trexquant Investment LP now owns 21,936 shares of the financial services provider’s stock worth $503,000 after buying an additional 2,206 shares during the last quarter. Salzhauer Michael increased its position in ConnectOne Bancorp by 3.9% during the 1st quarter. Salzhauer Michael now owns 65,656 shares of the financial services provider’s stock valued at $1,280,000 after buying an additional 2,480 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in ConnectOne Bancorp in the fourth quarter valued at about $80,000. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB opened at $24.22 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a twelve month low of $14.51 and a twelve month high of $25.53. The stock has a 50-day moving average of $19.68 and a 200 day moving average of $19.92. The stock has a market capitalization of $928.43 million, a price-to-earnings ratio of 12.81 and a beta of 1.27.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $134.41 million for the quarter, compared to the consensus estimate of $64.62 million. ConnectOne Bancorp had a net margin of 14.56% and a return on equity of 7.16%. During the same period last year, the firm posted $0.51 earnings per share. Sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 1.74 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, August 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 38.10%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler lifted their target price on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.00.

ConnectOne Bancorp Profile

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.