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Wednesday, September 27, 2023

Momentum Is Strong For ConnectOne Bancorp Inc. (NASDAQ: CNOB)

After Hours

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. After-hours trades for ConnectOne Bancorp Inc. (CNOB) shows that investor sentiment remained same, with the stock’s consolidated last price remained same to $19.64. The ConnectOne Bancorp Inc. has recorded 6,138 volume in the after hours trading session. Earlier, Yahoo Finance discussed this stock as it revealed ConnectOne Bancorp, Inc. Reports Second Quarter 2023 Results; Declares Common and Preferred Dividends.

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Stocks Info

This NASDAQ-listed company operates within the Banks – Regional industry segment, falling under the Financial sector. At the end of the last regular session, the stock closed at $19.64 and fluctuated between $19.85 as its day high and $19.30 as its day low. The current market capitalization of ConnectOne Bancorp Inc. is $744.55M. A total of 99169.0 shares were traded on the day, compared to an average of 241.62K shares.

Insider Activity

Insider trades can also provide insight into a stock’s future direction. During the recent three months, CNOB has seen 0 BUY and 1 SELL insider trades, representing the acquisition of 0 and the disposition of 47,500 shares. Over the last 12 months, there were 29 BUYs and 25 SELLs from insiders. Insiders purchased 285,426 shares during that period but sold 199,048.

In the most recent transaction, THOMPSON WILLIAM bought 2,000 shares of CNOB for 20.25 per share on Aug 15. After the transaction, the Director now owns 100,850 company shares. In a previous transaction on Aug 09, Kempner Michael W sold 47,500 shares at 20.70 per share. CNOB shares that Director owns now total 276,338.

Among the insiders who bought shares, Rifkin Daniel E acquired of 5,000 shares on May 26 at a per-share price of $13.85. This resulted in the Director holding 194,168 shares of CNOB after the transaction. In another insider transaction, Ewing Christopher J. bought 350 shares at $14.50 per share on May 08. Company shares held by the EVP & Chief Operations Officer now total 53,377.


The income generated by dividends is an indication that a company is improving its financial position, which is why investors prefer companies paying dividends. ConnectOne Bancorp Inc. pays an annual dividend of $0.68, resulting in a dividend yield of 3.46%, and it has a price to earnings (P/E) ratio of 7.58. CNOB’s most recent ex-dividend date was 8/14/2023 when it declared a $0.17 quarterly dividend that was paid in cash on 9/1/2023. Previously, the company paid the dividend on 6/1/2023 with an ex-dividend date of 5/12/2023. The CNOB stock dividend was $0.17 per share in cash.

Even though price targets are rarely accurate, they do tend to exert some kind of influence from time to time and are often considered important by markets. According to analysts who have offered 12-month price targets for CNOB in the last 3 months, the mean price target is $23.75 with high estimates of $26.00 and low estimates of $23.00. In terms of 52-week highs and lows, CNOB has a high of $26.55 and a low of $13.11.

As of this writing, CNOB has an earnings estimate of $0.5 per share for the current quarter. EPS was calculated based on a consensus of 4 estimates, with a high estimate of $0.52 per share and a lower estimate of $0.48. The company reported an EPS of $0.59 in the last quarter, which was -9.20% lower than expectations of $0.65.

Balance Sheet Annually/Quarterly

In a balance sheet, you can see what assets and liabilities the company has, as well as how much equity investors have invested. These figures can be used to calculate a company’s financial ratios to give investors a better idea of its prospects. Its Book Value Per Share was $27.93, while its Total Shareholder’s Equity was $1.12B.

Analysts Opinion

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CNOB is Buy with a score of 4.75.

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