Dimensional Fund Advisors LP has recently announced that it has increased stake in ConnectOne Bancorp Inc. (NASDAQ:CNOB) by 1.89%. After grabbing 2.54 million shares, the institutional investor is now in possession of 47150.0 shares of the Financial Company. The new investment brought the stake of investor firm to 6.47% having worth around $61.42 million. Moreover, The Vanguard Group, Inc. increased its share by 14131.0 to have a control over 1.82 million shares. And American Century Investment Manag raised its holdings to 76550.0 shares by acquiring 1.54 million shares or 3.94% of the stake.
ConnectOne Bancorp Inc. (CNOB) concluded trading on 01/19/23 at a closing price of $24.00, with 0.15 million shares of worth about $3.69 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.72% during that period and on Thursday the price saw a loss of about -0.74%. Currently the company’s common shares owned by public are about 39.15M shares, out of which, 35.19M shares are available for trading.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 56 times over the past 12 months. They bought 155,264 shares in 34 of the transactions. In 22 selling transactions, insiders dumped 75,944 shares.
American Century Small Cap Value, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in ConnectOne Bancorp Inc. American Century Small Cap Value is currently holding 1.12 million shares of worth totaling $27.24 million. The company recently came buying 45000.0 shares which brought its stake up to 2.87% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 273.0 shares, after which its hold over company’s outstanding shares expand to 2.62%, leaving 1.03 million shares with the mutual fund that have a worth of about $24.87 million. iShares Russell 2000 ETF, after selling 0.88 million shares, have now control over 2.23% of the stake in the company. It holds 9150.0 shares of worth $21.2 million.
ConnectOne Bancorp Inc. (NASDAQ: CNOB) started trading at $24.08, below -$0.1 from concluding price of the previous day. However, the stock later moved at a day high price of 24.22, or with a loss of -0.74%. Stock saw a price change of -6.58% in past 5 days and over the past one month there was a price change of 3.45%. Year-to-date (YTD), CNOB shares are showing a performance of -0.87% which decreased to -34.26% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $22.55 but also hit the highest price of $36.62 during that period. The average intraday trading volume for ConnectOne Bancorp Inc. shares is 129.27K. The stock is currently trading -2.58% below its 20-day simple moving average (SMA20), while that difference is down -3.72% for SMA50 and it goes to -7.39% lower than SMA200.
Dimensional Fund Advisors LP acquired 2.54 million shares of ConnectOne Bancorp Inc. having value of about $61.42 million. Data submitted at the U.S SEC by Dimensional Fund Advisors LP revealed that the firm now holds 47150.0 shares in the company valued at close to $1131600.0, or have control over 1.89% stake in the company. ConnectOne Bancorp Inc. (NASDAQ: CNOB) currently have 39.15M outstanding shares and institutions hold larger chunk of about 74.70% of that. Holding of mutual funds in the company is about 38.43% while other institutional holders and individual stake holders have control over 8.27% and 29.62% of the stake respectively.
The stock has a current market capitalization of $952.08M and its 3Y-monthly beta is at 1.18. PE ratio of stock for trailing 12 months is 7.98, while it has posted earnings per share of $3.01 in the same period. Its PEG reads 0.80 while making debt-to-equity ratio of 0.15. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CNOB, volatility over the week remained 2.56% while standing at 2.69% over the month.
Analysts are in expectations that ConnectOne Bancorp Inc. (CNOB) stock would likely to be making an EPS of $0.8 in the current quarter, while forecast for next quarter EPS is $0.76 and it is $3.13 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.77 which is $0.84 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.79 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 79.80% while it is estimated to increase by 3.18% in next year. EPS is likely to shrink at an annualized rate of 10.00% for next 5-years, compared to annual growth of 26.10% made by the stock over the past 5-years.
Coverage by Raymond James stated ConnectOne Bancorp Inc. (CNOB) stock as an Outperform in their note to investors on January 31, 2022, suggesting a price target of $38 for the stock. On February 18, 2021, Seaport Global Securities Initiated their recommendations, while on December 17, 2020, Piper Sandler Initiated their ratings for the stock with a price target of $25. Stock get an Overweight rating from Stephens on October 29, 2019.
