Context BH Capital Management LP raised its stake in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 73.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,261 shares of the financial services provider’s stock after purchasing an additional 68,824 shares during the period. Context BH Capital Management LP’s holdings in ConnectOne Bancorp were worth $2,997,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in CNOB. Legal & General Group Plc lifted its holdings in ConnectOne Bancorp by 11.2% in the fourth quarter. Legal & General Group Plc now owns 5,548 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 561 shares during the period. Metropolitan Life Insurance Co. NY lifted its holdings in ConnectOne Bancorp by 371.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,578 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 7,547 shares during the period. Paloma Partners Management Co acquired a new stake in ConnectOne Bancorp in the fourth quarter valued at $234,000. Squarepoint Ops LLC acquired a new stake in ConnectOne Bancorp in the fourth quarter valued at $239,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in ConnectOne Bancorp by 94.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 98,017 shares of the financial services provider’s stock valued at $1,810,000 after acquiring an additional 47,649 shares during the period. Institutional investors own 60.34% of the company’s stock.
A number of equities research analysts have commented on the company. Zacks Investment Research downgraded ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. BidaskClub raised ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. ValuEngine raised ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a report on Thursday, February 7th. Finally, TheStreet raised ConnectOne Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. Three investment analysts have rated the stock with a sell rating and one has given a strong buy rating to the company. ConnectOne Bancorp presently has a consensus rating of “Hold” and a consensus target price of $34.00.
NASDAQ:CNOB opened at $18.99 on Tuesday. The firm has a market cap of $672.73 million, a PE ratio of 8.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.00 and a quick ratio of 1.00. ConnectOne Bancorp Inc has a 52-week low of $17.07 and a 52-week high of $29.85.
ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.04. The business had revenue of $41.68 million during the quarter, compared to the consensus estimate of $43.01 million. ConnectOne Bancorp had a return on equity of 12.31% and a net margin of 27.20%. On average, analysts expect that ConnectOne Bancorp Inc will post 2.22 EPS for the current fiscal year.
In other news, Director William Thompson sold 2,700 shares of ConnectOne Bancorp stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $20.11, for a total transaction of $54,297.00. Following the completion of the transaction, the director now owns 74,787 shares of the company’s stock, valued at approximately $1,503,966.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 7.67% of the company’s stock.
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About ConnectOne Bancorp
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.
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