Denali Advisors LLC Acquires 3,700 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Denali Advisors LLC lifted its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 11.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 36,800 shares of the financial services provider’s stock after purchasing an additional 3,700 shares during the period. Denali Advisors LLC owned about 0.10% of ConnectOne Bancorp worth $843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC raised its stake in ConnectOne Bancorp by 0.8% in the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after buying an additional 6,880 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of ConnectOne Bancorp in the 3rd quarter worth $14,127,000. Stieven Capital Advisors L.P. raised its position in shares of ConnectOne Bancorp by 96.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after acquiring an additional 249,265 shares in the last quarter. Banc Funds Co. LLC lifted its stake in shares of ConnectOne Bancorp by 1.0% during the 3rd quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock worth $12,252,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in ConnectOne Bancorp by 32.3% during the fourth quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock valued at $5,746,000 after purchasing an additional 61,165 shares in the last quarter. 67.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CNOB shares. Keefe, Bruyette & Woods boosted their target price on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

ConnectOne Bancorp Stock Down 1.2 %

ConnectOne Bancorp stock opened at $24.86 on Thursday. The business has a fifty day moving average price of $24.21 and a 200-day moving average price of $24.99. ConnectOne Bancorp, Inc. has a 1-year low of $17.07 and a 1-year high of $29.31. The stock has a market capitalization of $953.88 million, a price-to-earnings ratio of 14.05 and a beta of 1.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Equities research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.90%. The ex-dividend date is Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is presently 40.68%.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank that provides commercial banking products and services for small and mid-sized businesses, local professionals, and individuals in the New York Metropolitan area and South Florida market. The company offers personal and business checking, money market, and time and savings accounts; credit cards, wire transfers, safe deposit boxes, automated teller services and telephone, and internet and mobile banking.