ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Short Interest Update

ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Free Report) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 1,360,000 shares, an increase of 6.3% from the April 15th total of 1,280,000 shares. Currently, 3.8% of the company’s stock are short sold. Based on an average daily volume of 170,900 shares, the short-interest ratio is presently 8.0 days.

Institutional Investors Weigh In On ConnectOne Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CNOB. Parallel Advisors LLC increased its stake in ConnectOne Bancorp by 206.8% during the 4th quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 757 shares during the period. Sound Income Strategies LLC acquired a new position in ConnectOne Bancorp in the fourth quarter valued at about $53,000. GAMMA Investing LLC bought a new stake in ConnectOne Bancorp during the fourth quarter worth about $80,000. Quest Partners LLC acquired a new stake in ConnectOne Bancorp during the fourth quarter worth about $165,000. Finally, Bryn Mawr Capital Management LLC acquired a new stake in ConnectOne Bancorp during the fourth quarter worth about $207,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Up 2.4 %

CNOB stock opened at $21.12 on Friday. ConnectOne Bancorp has a one year low of $13.15 and a one year high of $24.44. The stock has a market cap of $809.53 million, a price-to-earnings ratio of 11.17 and a beta of 1.25. The company has a fifty day moving average price of $19.09 and a two-hundred day moving average price of $20.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOBGet Free Report) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). The company had revenue of $64.15 million for the quarter, compared to the consensus estimate of $63.93 million. ConnectOne Bancorp had a return on equity of 7.39% and a net margin of 15.29%. Equities analysts anticipate that ConnectOne Bancorp will post 1.72 EPS for the current year.

ConnectOne Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.41%. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, May 14th. ConnectOne Bancorp’s dividend payout ratio is currently 38.10%.

Wall Street Analysts Forecast Growth

CNOB has been the topic of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $24.00 price target (down from $27.00) on shares of ConnectOne Bancorp in a report on Friday, April 26th. Piper Sandler lifted their target price on ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, January 26th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Finally, Raymond James boosted their price target on ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ConnectOne Bancorp has a consensus rating of “Buy” and an average target price of $24.50.

Check Out Our Latest Research Report on ConnectOne Bancorp

About ConnectOne Bancorp

(Get Free Report)

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.

Further Reading

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