Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 3.06MM shares of ConnectOne Bancorp Inc (CNOB). This represents 7.8% of the company.
In their previous filing dated February 1, 2022 they reported 2.87MM shares and 7.30% of the company, an increase in shares of 6.42% and an increase in total ownership of 0.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 44.22% Upside
As of January 27, 2023, the average one-year price target for ConnectOne Bancorp is $31.96. The forecasts range from a low of $31.31 to a high of $33.60. The average price target represents an increase of 44.22% from its latest reported closing price of $22.16.
The projected annual revenue for ConnectOne Bancorp is $330MM, an increase of 11.02%. The projected annual EPS is $3.24, an increase of 6.94%.
Fund Sentiment
There are 396 funds or institutions reporting positions in ConnectOne Bancorp. This is a decrease of 13 owner(s) or 3.18%.
Average portfolio weight of all funds dedicated to US:CNOB is 0.1346%, a decrease of 6.7718%. Total shares owned by institutions decreased in the last three months by 0.76% to 31,670K shares.
What are large shareholders doing?
American Century Companies holds 1,544,341 shares representing 3.94% ownership of the company. In it's prior filing, the firm reported owning 1,467,791 shares, representing an increase of 4.96%. The firm increased its portfolio allocation in CNOB by 6.77% over the last quarter.
Goldman Sachs Group holds 1,200,013 shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 1,312,077 shares, representing a decrease of 9.34%. The firm decreased its portfolio allocation in CNOB by 11.75% over the last quarter.
William Blair Investment Management holds 1,167,460 shares representing 2.98% ownership of the company. In it's prior filing, the firm reported owning 1,190,374 shares, representing a decrease of 1.96%. The firm decreased its portfolio allocation in CNOB by 1.35% over the last quarter.
ASVIX - Small Cap Value Fund Investor Class holds 1,125,000 shares representing 2.87% ownership of the company. In it's prior filing, the firm reported owning 1,080,000 shares, representing an increase of 4.00%. The firm increased its portfolio allocation in CNOB by 5.39% over the last quarter.
Nuveen Asset Management holds 1,033,012 shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 978,668 shares, representing an increase of 5.26%. The firm increased its portfolio allocation in CNOB by 4.28% over the last quarter.
ConnectOne Bancorp Background Information
(This description is provided by the company.)
ConnectOne Bancorp, Inc., through its subsidiary, ConnectOne Bank offers a full suite of both commercial and consumer banking and lending products and services through its banking offices located across New York and New Jersey.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
