Envestnet Asset Management Sells Shares of ConnectOne Bancorp, Inc

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CONNECTONE ($NASDAQ:CNOB): Envestnet Asset Management Inc. recently sold shares of ConnectOne Bancorp, Inc., a bank holding company headquartered in Englewood, New Jersey. ConnectOne Bancorp’s subsidiaries include ConnectOne Bank, N.A., a full-service community bank; ConnectOne Wealth Solutions LLC, a full-service registered investment advisory firm; ConnectOne Insurance Solutions LLC, a full-service property and casualty insurance agency; and ConnectOne Financial Services LLC, which offers trust and estate planning services. The company also has a wide range of consumer and commercial lending products, including mortgages, lines of credit, commercial real estate loans, and vehicle and equipment financing. With a commitment to providing exceptional customer service and innovative banking technology, ConnectOne Bancorp is dedicated to helping its customers and local communities achieve their financial goals.

Share Price

The sale was made at an average price of $20.8 per share, with the stock opening at that same price and closing slightly down at $20.9 per share, a decrease of 0.1% from the previous closing price. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Connectone Bancorp. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Connectone Bancorp. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Connectone Bancorp. More…

Key Ratios Snapshot

Some of the financial key ratios for Connectone Bancorp are shown below. More…

Analysis

GoodWhale has conducted an analysis of CONNECTONE BANCORP‘s financials. According to Star Chart, CONNECTONE BANCORP is classified as a ‘rhino,’ which suggests that the company has achieved moderate revenue or earnings growth. This type of company may be of interest to investors who focus on steady growth. CONNECTONE BANCORP has a strong financial health score of 7/10 with regard to its cashflows and debt, indicating that it is capable of paying off debt and funding future operations. Additionally, the company scores high in the growth, assets, and dividend categories, while scoring medium in the profitability category. More…

Peers

It is a regional competitor to larger financial institutions such as Nishi-Nippon Financial Holdings Inc, Village Bank and Trust Financial Corp, and Atlantic Union Bankshares Corp. These companies are all involved in providing banking and financial services to their respective customers.

– Nishi-Nippon Financial Holdings Inc ($TSE:7189)

Nishi-Nippon Financial Holdings Inc is a holding company based in Japan with a market cap of 154.96B as of 2023. It operates a range of financial services including banking, asset management, insurance, and securities brokerage. The company is listed on the Tokyo Stock Exchange and has over 20 subsidiaries in Japan and other countries such as Thailand and China. Nishi-Nippon Financial Holdings Inc also has a presence in the US, through its investment in a US-based institutional asset management firm. The company has been consistently profitable for the last few years, and its market cap reflects investors’ confidence in its ability to provide reliable and quality financial services.

– Village Bank and Trust Financial Corp ($NASDAQ:VBFC)

Village Bank and Trust Financial Corp (VBTX) is a publicly traded bank holding company with a market capitalization of 85.52M as of 2023. The bank is primarily engaged in the business of providing banking services and products to individuals, families, and small businesses in the United States. Village Bank and Trust Financial Corp’s products and services include checking and savings accounts, certificates of deposit, personal loans, mortgage loans, commercial banking, and wealth management services. They also provide online and mobile banking services. The bank operates over 15 branches located throughout the northeast region of the United States.

– Atlantic Union Bankshares Corp ($NYSE:AUB)

Union Bankshares Corp is a diversified financial holding company. Founded in 1907, the company has grown to become one of the largest banking institutions in the United States. As of 2023, the company’s market cap stands at 2.85 billion, which makes it a major player in the banking industry. Union Bankshares Corp provides a wide range of banking services, including retail banking, commercial banking, mortgage lending, trust services, and wealth management. As a leader in the banking industry, Union Bankshares Corp provides customers with the financial tools they need to achieve their goals.

Summary

ConnectOne Bancorp, Inc. is a provider of banking and financial services headquartered in Englewood Cliffs, New Jersey. Envestnet Asset Management Inc. recently sold a substantial number of shares in the company. Investors should consider the potential impact this may have on the share price of ConnectOne Bancorp, Inc. when making investment decisions. Analysts have noted that the sale could signal a shift in investor sentiment. Furthermore, investors should take into account the company’s financial performance, including its balance sheet, income statement, and cash flow statement.

Additionally, investors should look into ConnectOne Bancorp, Inc.’s competitive advantages and perform a thorough analysis of the company’s competitive landscape. Finally, investors should pay close attention to the market conditions and macroeconomic environment to understand how these factors could affect the company’s performance going forward.