ConnectOne Bancorp, Inc. $CNOB Shares Sold by Susquehanna International Group LLP

Susquehanna International Group LLP cut its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 39.2% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 37,951 shares of the financial services provider’s stock after selling 24,510 shares during the period. Susquehanna International Group LLP owned approximately 0.08% of ConnectOne Bancorp worth $1,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its position in shares of ConnectOne Bancorp by 195.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 880 shares in the last quarter. Osaic Holdings Inc. grew its holdings in ConnectOne Bancorp by 728.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 1,566 shares in the last quarter. Allworth Financial LP purchased a new stake in ConnectOne Bancorp during the 2nd quarter worth $52,000. Quantbot Technologies LP acquired a new position in shares of ConnectOne Bancorp in the second quarter worth about $73,000. Finally, State of Wyoming bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $73,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CNOB shares. Raymond James Financial reaffirmed a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of ConnectOne Bancorp in a research report on Monday, August 17th. Finally, Piper Sandler lifted their price objective on shares of ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, ConnectOne Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

ConnectOne Bancorp Stock Performance

Shares of CNOB stock opened at $31.73 on Monday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 10.40 and a beta of 1.05. ConnectOne Bancorp, Inc. has a 1-year low of $23.20 and a 1-year high of $34.14. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $32.77 and its 200-day simple moving average is $29.98.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. ConnectOne Bancorp had a return on equity of 11.24% and a net margin of 20.21%.The firm had revenue of $121.57 million for the quarter, compared to the consensus estimate of $121.55 million. On average, sell-side analysts predict that ConnectOne Bancorp, Inc. will post 3.37 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 14th. ConnectOne Bancorp’s payout ratio is 25.57%.

ConnectOne Bancorp Profile

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.