Prelude Capital Management LLC Trims Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Prelude Capital Management LLC decreased its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Rating) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,795 shares of the financial services provider’s stock after selling 5,053 shares during the period. Prelude Capital Management LLC owned about 0.20% of ConnectOne Bancorp worth $2,586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Atria Wealth Solutions Inc. bought a new position in shares of ConnectOne Bancorp during the 1st quarter worth $576,000. Hsbc Holdings PLC grew its position in shares of ConnectOne Bancorp by 47.5% during the 1st quarter. Hsbc Holdings PLC now owns 12,637 shares of the financial services provider’s stock worth $405,000 after buying an additional 4,070 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of ConnectOne Bancorp by 2.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 261,943 shares of the financial services provider’s stock worth $8,385,000 after buying an additional 7,272 shares in the last quarter. EJF Capital LLC grew its position in shares of ConnectOne Bancorp by 8.8% during the 1st quarter. EJF Capital LLC now owns 453,918 shares of the financial services provider’s stock worth $14,530,000 after buying an additional 36,571 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of ConnectOne Bancorp by 9.5% during the 1st quarter. First Trust Advisors LP now owns 20,403 shares of the financial services provider’s stock worth $653,000 after buying an additional 1,764 shares in the last quarter. Hedge funds and other institutional investors own 68.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stephens raised their price objective on ConnectOne Bancorp from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, August 2nd. Raymond James dropped their price objective on ConnectOne Bancorp from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, July 7th.

Insider Buying and Selling at ConnectOne Bancorp

In other ConnectOne Bancorp news, Director Stephen T. Boswell acquired 6,000 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were purchased at an average price of $24.96 per share, for a total transaction of $149,760.00. Following the completion of the purchase, the director now directly owns 61,657 shares of the company’s stock, valued at $1,538,958.72. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.58% of the stock is currently owned by company insiders.

ConnectOne Bancorp Price Performance

Shares of CNOB stock opened at $25.23 on Friday. ConnectOne Bancorp, Inc. has a 1-year low of $23.18 and a 1-year high of $37.00. The stock’s 50-day moving average is $25.80 and its 200 day moving average is $27.99. The company has a market cap of $990.03 million, a P/E ratio of 8.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.00.

ConnectOne Bancorp (NASDAQ:CNOBGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. ConnectOne Bancorp had a net margin of 38.52% and a return on equity of 12.69%. The business had revenue of $78.95 million for the quarter, compared to analyst estimates of $75.80 million. During the same quarter in the prior year, the business posted $0.81 EPS. Research analysts predict that ConnectOne Bancorp, Inc. will post 3.11 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Monday, August 15th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $0.62 dividend on an annualized basis and a yield of 2.46%. ConnectOne Bancorp’s payout ratio is 19.87%.

ConnectOne Bancorp Profile

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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 Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts.

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Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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