Hussman Strategic Advisors Inc. Takes Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Hussman Strategic Advisors Inc. purchased a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 21,000 shares of the financial services provider’s stock, valued at approximately $481,000. Hussman Strategic Advisors Inc. owned about 0.05% of ConnectOne Bancorp as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of ConnectOne Bancorp by 0.8% during the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock valued at $21,359,000 after buying an additional 6,880 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp during the third quarter valued at approximately $14,127,000. Stieven Capital Advisors L.P. grew its holdings in shares of ConnectOne Bancorp by 96.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock valued at $11,644,000 after buying an additional 249,265 shares during the last quarter. Banc Funds Co. LLC grew its holdings in shares of ConnectOne Bancorp by 1.0% during the third quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock valued at $12,252,000 after buying an additional 5,000 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in ConnectOne Bancorp by 52.8% in the third quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after purchasing an additional 83,950 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Down 2.1 %

Shares of CNOB stock opened at $25.90 on Friday. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $24.26 and its 200 day moving average is $24.88. The stock has a market capitalization of $993.78 million, a P/E ratio of 14.63 and a beta of 1.30.

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

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is 40.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNOB shares. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods raised 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.

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.