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

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 609,000 shares, a decrease of 7.1% from the September 15th total of 655,700 shares. Based on an average daily trading volume, of 213,300 shares, the short-interest ratio is currently 2.9 days. Approximately 1.7% of the company’s shares are short sold.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNOB. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a report on Friday, July 26th. Piper Sandler increased their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ConnectOne Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.33.

Institutional Trading of ConnectOne Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of CNOB. Kennedy Capital Management LLC lifted its holdings in ConnectOne Bancorp by 698.1% in the first quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock worth $13,197,000 after buying an additional 591,995 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of ConnectOne Bancorp during the second quarter valued at approximately $1,648,000. American Century Companies Inc. lifted its holdings in shares of ConnectOne Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock valued at $11,969,000 after purchasing an additional 85,437 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock valued at $41,802,000 after purchasing an additional 53,563 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of ConnectOne Bancorp by 196.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock valued at $1,086,000 after purchasing an additional 40,334 shares during the last quarter. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

ConnectOne Bancorp Stock Up 0.6 %

CNOB traded up $0.16 on Thursday, hitting $26.68. The company had a trading volume of 189,383 shares, compared to its average volume of 182,261. 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 has a 52-week low of $14.51 and a 52-week high of $27.13. The stock has a fifty day simple moving average of $24.32 and a 200-day simple moving average of $21.24. The firm has a market capitalization of $1.02 billion, a P/E ratio of 14.03 and a beta of 1.25.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. ConnectOne Bancorp had a net margin of 14.56% and a return on equity of 7.13%. The business had revenue of $134.41 million during the quarter, compared to analyst estimates of $64.62 million. During the same period last year, the business posted $0.51 earnings per share. As a group, equities analysts expect that ConnectOne Bancorp will post 1.78 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.72 annualized dividend and a yield of 2.70%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 38.10%.

ConnectOne Bancorp Company 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.