Swiss National Bank Acquires 20,200 Shares of ConnectOne Bancorp, Inc. $CNOB

Swiss National Bank increased its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 28.6% in the second quarter, HoldingsChannel.com reports. The fund owned 90,800 shares of the financial services provider’s stock after acquiring an additional 20,200 shares during the period. Swiss National Bank’s holdings in ConnectOne Bancorp were worth $2,103,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CNOB. Webster Bank N. A. purchased a new position in ConnectOne Bancorp during the 2nd quarter valued at $31,000. Farther Finance Advisors LLC boosted its stake in shares of ConnectOne Bancorp by 275.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,471 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,079 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ConnectOne Bancorp by 107.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,842 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 956 shares in the last quarter. Quarry LP purchased a new position in shares of ConnectOne Bancorp during the first quarter valued at about $88,000. Finally, CWM LLC raised its stake in ConnectOne Bancorp by 530.0% in the second quarter. CWM LLC now owns 7,623 shares of the financial services provider’s stock worth $177,000 after buying an additional 6,413 shares in the last quarter. Institutional investors own 67.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CNOB. Piper Sandler initiated coverage on shares of ConnectOne Bancorp in a report on Friday, November 7th. They issued an “overweight” rating and a $28.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of ConnectOne Bancorp in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

ConnectOne Bancorp Trading Down 1.0%

Shares of NASDAQ CNOB opened at $26.18 on Friday. ConnectOne Bancorp, Inc. has a 1 year low of $20.61 and a 1 year high of $27.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day moving average of $24.68 and a 200 day moving average of $24.28. The stock has a market cap of $1.32 billion, a P/E ratio of 21.11 and a beta of 1.15.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. ConnectOne Bancorp had a net margin of 9.90% and a return on equity of 8.22%. The business had revenue of $110.78 million during the quarter, compared to the consensus estimate of $111.20 million. As a group, sell-side analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 58.06%.

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.