Susquehanna International Group LLP Sells 24,510 Shares of ConnectOne Bancorp, Inc. $CNOB

Susquehanna International Group LLP cut its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 39.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,951 shares of the financial services provider’s stock after selling 24,510 shares during the quarter. Susquehanna International Group LLP’s holdings in ConnectOne Bancorp were worth $1,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. AQR Capital Management LLC boosted its position in shares of ConnectOne Bancorp by 7.6% during the 1st quarter. AQR Capital Management LLC now owns 74,053 shares of the financial services provider’s stock valued at $1,800,000 after acquiring an additional 5,205 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ConnectOne Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock worth $524,000 after buying an additional 914 shares in the last quarter. Jane Street Group LLC raised its stake in shares of ConnectOne Bancorp by 374.7% in the first quarter. Jane Street Group LLC now owns 64,537 shares of the financial services provider’s stock valued at $1,569,000 after acquiring an additional 50,942 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in shares of ConnectOne Bancorp by 32.7% in the 2nd quarter. New York State Common Retirement Fund now owns 13,709 shares of the financial services provider’s stock worth $318,000 after acquiring an additional 3,379 shares in the last quarter. Finally, Invesco Ltd. grew its position in ConnectOne Bancorp by 14.1% during the 2nd quarter. Invesco Ltd. now owns 111,195 shares of the financial services provider’s stock worth $2,575,000 after acquiring an additional 13,729 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of ConnectOne Bancorp in a research report on Monday, August 17th. Piper Sandler lifted their price target on ConnectOne Bancorp from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Raymond James Financial reissued a “market perform” rating on shares of ConnectOne Bancorp in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

ConnectOne Bancorp Stock Performance

Shares of CNOB opened at $31.73 on Monday. The stock’s fifty day simple moving average is $32.77 and its 200-day simple moving average is $29.98. The firm has a market capitalization of $1.60 billion, a PE ratio of 10.40 and a beta of 1.05. ConnectOne Bancorp, Inc. has a 12-month low of $23.20 and a 12-month high of $34.14. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.61.

ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The company had revenue of $121.57 million for the quarter, compared to the consensus estimate of $121.55 million. ConnectOne Bancorp had a net margin of 20.21% and a return on equity of 11.24%. As a group, research analysts predict that ConnectOne Bancorp, Inc. will post 3.37 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, August 14th. ConnectOne Bancorp’s dividend payout ratio is currently 25.57%.

About ConnectOne Bancorp

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.