Citadel Advisors LLC Purchases Shares of 45,784 ConnectOne Bancorp, Inc. (CNOB)
Citadel Advisors LLC purchased a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 45,784 shares of the financial services provider’s stock, valued at approximately $1,033,000. Citadel Advisors LLC owned 0.14% of ConnectOne Bancorp as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Legal & General Group Plc boosted its position in ConnectOne Bancorp by 9.5% during the 1st quarter. Legal & General Group Plc now owns 7,568 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 659 shares during the period. Karp Capital Management Corp acquired a new position in ConnectOne Bancorp during the 1st quarter worth $218,000. Trexquant Investment LP acquired a new position in ConnectOne Bancorp during the 2nd quarter worth $227,000. GSA Capital Partners LLP acquired a new position in ConnectOne Bancorp during the 2nd quarter worth $244,000. Finally, Aperio Group LLC boosted its position in ConnectOne Bancorp by 28.2% during the 2nd quarter. Aperio Group LLC now owns 11,542 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 2,541 shares during the period. Institutional investors own 68.35% of the company’s stock.
Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) opened at 24.85 on Friday. ConnectOne Bancorp, Inc. has a 1-year low of $17.75 and a 1-year high of $26.65. The stock has a 50 day moving average price of $22.94 and a 200-day moving average price of $22.85. The company has a market cap of $793.04 million, a P/E ratio of 27.01 and a beta of 0.97.
ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.04. The firm had revenue of $36.52 million for the quarter, compared to analyst estimates of $36.08 million. ConnectOne Bancorp had a return on equity of 9.37% and a net margin of 16.42%. Analysts predict that ConnectOne Bancorp, Inc. will post $1.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, October 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.21%. ConnectOne Bancorp’s payout ratio is 32.26%.
Separately, BidaskClub raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd.
About ConnectOne Bancorp
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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