Updated from 10:37 a.m. ET, with afternoon market action.
Shares were up 2% in afternoon trading, to $29.52.
ConnectOne Bancorp of Englewood Cliffs, N.J., formerly known as North Jersey Community Bank, completed its IPO on Feb. 15, selling 1,600,000 share at a price of $28.00 a share, for $44.8 million. Net proceeds were $41.5 million.The company reported first-quarter net income of $2.4 million, or 58 cents a share, increasing from $1.7 million, or 76 cents a share, in the first quarter of 2012. ConnectOne Bancorp had $1.0 billion in total assets as of March 31, with eight ConnectOne Bank branches in Bergen, Hudson, and Monmouth Counties, in New Jersey.
|ConnectOne CEO Frank Sorrentino III|
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV