ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 74.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,359 shares of the financial services provider's stock after selling 27,981 shares during the quarter. Thrivent Financial for Lutherans' holdings in ConnectOne Bancorp were worth $214,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Serenus Wealth Advisors LLC bought a new position in ConnectOne Bancorp during the fourth quarter worth $209,000. Zacks Investment Management bought a new stake in ConnectOne Bancorp in the 3rd quarter valued at about $232,000. Wilmington Savings Fund Society FSB purchased a new position in shares of ConnectOne Bancorp in the third quarter valued at $305,000. SG Americas Securities LLC raised its position in shares of ConnectOne Bancorp by 52.5% in the fourth quarter. SG Americas Securities LLC now owns 14,992 shares of the financial services provider's stock worth $343,000 after buying an additional 5,158 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth $363,000. Institutional investors and hedge funds own 67.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $31.00 to $32.00 in a research report on Wednesday, March 26th.

ConnectOne Bancorp Stock Up 6.2 %

NASDAQ:CNOB traded up $1.33 during trading hours on Wednesday, reaching $22.62. 324,034 shares of the company traded hands, compared to its average volume of 194,066. The stock has a market capitalization of $868.02 million, a P/E ratio of 12.78 and a beta of 1.09. 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 business's 50-day moving average price is $24.61 and its two-hundred day moving average price is $24.89. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $0.52 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%. Analysts predict that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a yield of 3.18%. ConnectOne Bancorp's payout ratio is 40.68%.

About ConnectOne Bancorp

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.