ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Holdings Trimmed by Banc Funds Co. LLC

Banc Funds Co. LLC reduced its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 479,086 shares of the financial services provider’s stock after selling 10,000 shares during the period. Banc Funds Co. LLC owned approximately 1.25% of ConnectOne Bancorp worth $10,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in ConnectOne Bancorp by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider’s stock worth $49,636,000 after buying an additional 19,348 shares during the last quarter. Geode Capital Management LLC grew its position in ConnectOne Bancorp by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after purchasing an additional 6,880 shares in the last quarter. American Century Companies Inc. raised its stake in ConnectOne Bancorp by 6.9% during the 4th quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider’s stock valued at $17,680,000 after purchasing an additional 49,943 shares during the period. Stieven Capital Advisors L.P. boosted its position in shares of ConnectOne Bancorp by 96.2% in the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after buying an additional 249,265 shares during the period. Finally, Bank of New York Mellon Corp raised 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 buying an additional 61,165 shares during the period. 67.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded shares of ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $31.00 to $32.00 in a research note on Wednesday, March 26th.

ConnectOne Bancorp Stock Down 0.7 %

Shares of CNOB opened at $21.40 on Thursday. The firm has a market capitalization of $823.26 million, a P/E ratio of 12.09 and a beta of 1.09. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The company has a 50-day simple moving average of $24.00 and a 200-day simple moving average of $24.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

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 return on equity of 6.77% and a net margin of 13.80%. On average, equities research analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is currently 40.68%.

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.