ConnectOne Bancorp (CNOB) Scheduled to Post Earnings on Thursday

ConnectOne Bancorp (NASDAQ:CNOB) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect ConnectOne Bancorp to post earnings of $0.42 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $65.50 million. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. On average, analysts expect ConnectOne Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

ConnectOne Bancorp Stock Up 0.5 %

Shares of NASDAQ:CNOB opened at $18.00 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $689.94 million, a PE ratio of 8.70 and a beta of 1.25. The firm’s 50-day moving average is $19.38 and its two-hundred day moving average is $20.01. ConnectOne Bancorp has a 1 year low of $13.11 and a 1 year high of $24.44.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.78%. ConnectOne Bancorp’s payout ratio is 32.85%.

Institutional Trading of ConnectOne Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of ConnectOne Bancorp by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 2,090,143 shares of the financial services provider’s stock worth $47,885,000 after purchasing an additional 44,565 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of ConnectOne Bancorp by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 35,325 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 598 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in ConnectOne Bancorp by 3,714.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,004 shares of the financial services provider’s stock worth $412,000 after buying an additional 17,532 shares during the last quarter. Legal & General Group Plc grew its stake in ConnectOne Bancorp by 6.5% during the 4th quarter. Legal & General Group Plc now owns 31,788 shares of the financial services provider’s stock worth $728,000 after buying an additional 1,948 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ConnectOne Bancorp by 14.0% in the fourth quarter. Barclays PLC now owns 112,291 shares of the financial services provider’s stock worth $2,573,000 after purchasing an additional 13,805 shares in the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Analysts Set New Price Targets

CNOB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on ConnectOne Bancorp from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Raymond James upped their price target on ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Finally, Piper Sandler upped their price target on ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 26th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $25.25.

About ConnectOne Bancorp

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.