ConnectOne Bancorp, Inc. $CNOB Stake Cut by Rosenthal Henry Capital Advisors Inc.

Rosenthal Henry Capital Advisors Inc. decreased its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 58.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 34,366 shares of the financial services provider’s stock after selling 47,527 shares during the period. Rosenthal Henry Capital Advisors Inc.’s holdings in ConnectOne Bancorp were worth $1,033,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC boosted its stake in shares of ConnectOne Bancorp by 45.4% during the third quarter. Sterling Capital Management LLC now owns 1,124 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 351 shares in the last quarter. Nykredit A S purchased a new stake in ConnectOne Bancorp during the second quarter worth $39,000. Nisa Investment Advisors LLC lifted its holdings in ConnectOne Bancorp by 1,720.0% during the third quarter. Nisa Investment Advisors LLC now owns 1,638 shares of the financial services provider’s stock worth $49,000 after buying an additional 1,548 shares during the period. Allworth Financial LP purchased a new stake in ConnectOne Bancorp during the second quarter worth $52,000. Finally, Integrated Wealth Concepts LLC bought a new stake in ConnectOne Bancorp during the 2nd quarter valued at $58,000. Institutional investors own 67.70% of the company’s stock.

Insider Transactions at ConnectOne Bancorp

In other ConnectOne Bancorp news, insider Elizabeth Magennis sold 6,900 shares of ConnectOne Bancorp stock in a transaction on Monday, October 26th. The shares were sold at an average price of $32.67, for a total value of $225,423.00. Following the transaction, the insider directly owned 137,383 shares of the company’s stock, valued at approximately $4,488,302.61. The trade was a 4.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.24% of the company’s stock.

ConnectOne Bancorp Stock Down 1.3%

NASDAQ:CNOB opened at $32.57 on Thursday. The company’s 50-day simple moving average is $31.30 and its 200-day simple moving average is $29.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.04 and a current ratio of 1.04. ConnectOne Bancorp, Inc. has a fifty-two week low of $23.20 and a fifty-two week high of $34.14. The stock has a market capitalization of $1.64 billion, a P/E ratio of 11.39 and a beta of 1.08.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.85 by $0.10. ConnectOne Bancorp had a net margin of 18.97% and a return on equity of 11.96%. The firm had revenue of $127.23 million during the quarter, compared to analyst estimates of $125.36 million. On average, equities analysts anticipate that ConnectOne Bancorp, Inc. will post 3.42 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a $0.1950 dividend. This represents a $0.78 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. ConnectOne Bancorp’s payout ratio is currently 27.27%.

Analyst Ratings Changes

CNOB has been the topic of a number of analyst reports. Raymond James Financial upgraded ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and set a $37.00 price target on the stock in a report on Monday. Weiss Ratings restated a “buy (b)” rating on shares of ConnectOne Bancorp in a research note on Monday, August 17th. Five analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $35.75.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc is the parent company of ConnectOne Bank, a full-service commercial bank headquartered in Englewood Cliffs, New Jersey. The bank primarily serves businesses, entrepreneurs, professionals, nonprofit organizations and individuals in the New York metropolitan area and surrounding communities.

ConnectOne Bank provides a range of commercial and personal banking products, including checking and savings accounts, certificates of deposit, commercial and industrial loans, commercial real estate financing, construction loans, residential mortgage loans and consumer lending.