ConnectOne Bancorp Inc (CNOB) Shares Bought by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC boosted its holdings in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 9.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 76,090 shares of the financial services provider’s stock after acquiring an additional 6,550 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in ConnectOne Bancorp were worth $1,807,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Stevens Capital Management LP purchased a new position in ConnectOne Bancorp in the third quarter worth $210,000. United Services Automobile Association raised its position in ConnectOne Bancorp by 34.1% in the second quarter. United Services Automobile Association now owns 11,474 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 2,917 shares in the last quarter. Alpine Woods Capital Investors LLC purchased a new position in ConnectOne Bancorp in the second quarter worth $299,000. BlueMountain Capital Management LLC raised its position in ConnectOne Bancorp by 245.5% in the second quarter. BlueMountain Capital Management LLC now owns 16,283 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 11,570 shares in the last quarter. Finally, Gator Capital Management LLC purchased a new position in ConnectOne Bancorp in the third quarter worth $522,000. Hedge funds and other institutional investors own 66.92% of the company’s stock.

In other news, Director Stephen T. Boswell purchased 15,000 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was acquired at an average price of $20.83 per share, for a total transaction of $312,450.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael W. Kempner sold 5,650 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $21.46, for a total value of $121,249.00. Following the completion of the transaction, the director now owns 374,426 shares of the company’s stock, valued at approximately $8,035,181.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,600 shares of company stock valued at $307,149. Company insiders own 7.67% of the company’s stock.

CNOB has been the subject of several research analyst reports. ValuEngine cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, October 22nd. BidaskClub cut ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a research report on Friday, August 31st. Finally, Zacks Investment Research cut ConnectOne Bancorp from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Three investment analysts have rated the stock with a sell rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $35.33.

Shares of CNOB stock opened at $18.51 on Friday. ConnectOne Bancorp Inc has a fifty-two week low of $18.11 and a fifty-two week high of $31.40. The firm has a market capitalization of $599.98 million, a PE ratio of 10.58 and a beta of 0.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.00 and a quick ratio of 1.00.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. ConnectOne Bancorp had a return on equity of 12.07% and a net margin of 24.26%. The business had revenue of $41.39 million during the quarter, compared to analysts’ expectations of $41.52 million. As a group, sell-side analysts anticipate that ConnectOne Bancorp Inc will post 2.17 earnings per share for the current fiscal year.

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ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, time and savings accounts, and NOW accounts.

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Want to see what other hedge funds are holding CNOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ConnectOne Bancorp Inc (NASDAQ:CNOB).

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

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