ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC lessened its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 33.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,385 shares of the financial services provider’s stock after selling 5,115 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in ConnectOne Bancorp were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. grew its stake in shares of ConnectOne Bancorp by 5.6% in the 4th quarter. Hennessy Advisors Inc. now owns 95,000 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 5,000 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of ConnectOne Bancorp by 52.8% in the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after acquiring an additional 83,950 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of ConnectOne Bancorp during the third quarter worth about $305,000. Geode Capital Management LLC increased its stake 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 worth $21,359,000 after acquiring an additional 6,880 shares during the period. Finally, Barclays PLC raised its holdings in ConnectOne Bancorp by 52.0% during the third quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock worth $2,874,000 after purchasing an additional 39,249 shares in the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNOB. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods lifted their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

ConnectOne Bancorp Stock Up 0.9 %

CNOB stock opened at $22.98 on Friday. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week 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 company has a market cap of $881.74 million, a P/E ratio of 13.21 and a beta of 1.30. The company’s 50-day moving average price is $25.17 and its 200 day moving average price is $24.26.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is currently 41.38%.

ConnectOne Bancorp 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.