ConnectOne Bancorp Inc (NASDAQ:CNOB) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in ConnectOne Bancorp Inc (NASDAQ:CNOB) by 4,664.4% in the first quarter, Holdings Channel reports. The institutional investor owned 367,671 shares of the financial services provider’s stock after acquiring an additional 359,954 shares during the quarter. JPMorgan Chase & Co.’s holdings in ConnectOne Bancorp were worth $7,243,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. raised its stake in ConnectOne Bancorp by 3.5% in the first quarter. Hennessy Advisors Inc. now owns 295,000 shares of the financial services provider’s stock valued at $5,812,000 after buying an additional 10,000 shares during the last quarter. California Public Employees Retirement System raised its stake in ConnectOne Bancorp by 22.0% in the fourth quarter. California Public Employees Retirement System now owns 59,628 shares of the financial services provider’s stock valued at $1,101,000 after buying an additional 10,733 shares during the last quarter. Bank of New York Mellon Corp raised its stake in ConnectOne Bancorp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 164,598 shares of the financial services provider’s stock valued at $3,909,000 after buying an additional 2,770 shares during the last quarter. Clover Partners L.P. raised its stake in ConnectOne Bancorp by 18.0% in the fourth quarter. Clover Partners L.P. now owns 124,300 shares of the financial services provider’s stock valued at $2,296,000 after buying an additional 19,000 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in ConnectOne Bancorp by 94.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 98,017 shares of the financial services provider’s stock valued at $1,810,000 after buying an additional 47,649 shares during the last quarter. Institutional investors own 60.81% of the company’s stock.

In related news, COO Christopher J. Ewing sold 1,527 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $21.96, for a total value of $33,532.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Frank Sorrentino III sold 5,240 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $21.93, for a total transaction of $114,913.20. Following the completion of the sale, the chairman now directly owns 680,699 shares of the company’s stock, valued at approximately $14,927,729.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,823 shares of company stock valued at $215,622. 7.58% of the stock is owned by company insiders.

A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered ConnectOne Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, March 28th. BidaskClub raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 13th. ValuEngine lowered ConnectOne Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, TheStreet raised ConnectOne Bancorp from a “c+” rating to a “b-” rating in a report on Monday, February 25th. One analyst has rated the stock with a sell rating and two have given a buy rating to the company. ConnectOne Bancorp presently has an average rating of “Hold” and an average target price of $24.00.

NASDAQ CNOB opened at $21.36 on Wednesday. ConnectOne Bancorp Inc has a 12-month low of $17.07 and a 12-month high of $26.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $751.66 million, a price-to-earnings ratio of 9.58 and a beta of 0.88.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.03). The business had revenue of $46.69 million during the quarter, compared to the consensus estimate of $46.17 million. ConnectOne Bancorp had a return on equity of 11.73% and a net margin of 28.59%. As a group, equities research analysts forecast that ConnectOne Bancorp Inc will post 2.21 EPS for the current year.

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ConnectOne Bancorp 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, and time and savings accounts.

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

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