Frank Sorrentino III Sells 6,417 Shares of ConnectOne Bancorp Inc. (CNOB) Stock
ConnectOne Bancorp Inc. (NASDAQ:CNOB) Chairman Frank Sorrentino III sold 6,417 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $18.30, for a total transaction of $117,431.10. Following the completion of the sale, the chairman now owns 564,446 shares of the company’s stock, valued at approximately $10,329,361.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ConnectOne Bancorp Inc. (NASDAQ:CNOB) opened at 20.20 on Friday. ConnectOne Bancorp Inc. has a 52-week low of $14.86 and a 52-week high of $20.75. The firm has a market capitalization of $609.98 million, a P/E ratio of 14.33 and a beta of 0.75. The stock’s 50 day moving average is $18.31 and its 200-day moving average is $17.12.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Friday, October 14th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, October 12th. ConnectOne Bancorp’s dividend payout ratio is presently 21.43%.
CNOB has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Thursday, October 6th. FBR & Co reiterated a “buy” rating and set a $21.00 price target on shares of ConnectOne Bancorp in a research report on Monday, July 25th.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank), a New Jersey-chartered commercial bank. The Company operates in community bank segment. The Bank offers a range of deposit and loan products, and services to the general public, small and middle-sized businesses, local professionals, and individuals residing, working and conducting business in its trade area.
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