FBR & Co Weighs in on ConnectOne Bancorp, Inc.’s Q1 2017 Earnings (CNOB)

FBR & Co Weighs in on ConnectOne Bancorp, Inc.’s Q1 2017 Earnings (CNOB)

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) – Stock analysts at FBR & Co issued their Q1 2017 earnings estimates for shares of ConnectOne Bancorp in a note issued to investors on Thursday. FBR & Co analyst B. Ramsey anticipates that the firm will post earnings per share of $0.38 for the quarter. FBR & Co has a “Outperform” rating and a $26.00 price target on the stock. FBR & Co also issued estimates for ConnectOne Bancorp’s Q2 2017 earnings at $0.39 EPS, Q3 2017 earnings at $0.41 EPS and Q4 2017 earnings at $0.42 EPS.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 26th. The financial services provider reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. ConnectOne Bancorp had a return on equity of 9.59% and a net margin of 18.16%.

A number of other research analysts have also weighed in on CNOB. Zacks Investment Research raised ConnectOne Bancorp from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Thursday, October 6th. Maxim Group increased their target price on ConnectOne Bancorp from $23.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, December 19th.

Shares of ConnectOne Bancorp (NASDAQ:CNOB) opened at 25.85 on Monday. The firm has a 50 day moving average price of $25.54 and a 200 day moving average price of $20.40. ConnectOne Bancorp has a 52 week low of $14.86 and a 52 week high of $26.65. The company has a market capitalization of $825.75 million, a price-to-earnings ratio of 25.59 and a beta of 0.89.

In other news, Chairman Frank Sorrentino III sold 6,417 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $18.30, for a total value of $117,431.10. Following the transaction, the chairman now directly owns 564,446 shares in the company, valued at approximately $10,329,361.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael W. Kempner sold 1,660 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $19.85, for a total value of $32,951.00. Following the completion of the transaction, the director now owns 373,926 shares in the company, valued at $7,422,431.10. The disclosure for this sale can be found here. Company insiders own 8.30% of the company’s stock.

The firm also recently announced a dividend, which was paid on Wednesday, January 18th. Shareholders of record on Friday, January 13th were paid a dividend of $0.075 per share. The ex-dividend date was Wednesday, January 11th. ConnectOne Bancorp’s dividend payout ratio is 29.41%.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank), a New Jersey-chartered commercial bank. The Company operates in community bank segment. The Bank offers a range of deposit and loan products, and services to the general public, small and middle-sized businesses, local professionals, and individuals residing, working and conducting business in its trade area.

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