ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 36.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 157,898 shares of the financial services provider's stock after buying an additional 41,917 shares during the period. Envestnet Asset Management Inc. owned approximately 0.41% of ConnectOne Bancorp worth $3,617,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC grew its holdings in ConnectOne Bancorp by 26.3% in the third quarter. Jane Street Group LLC now owns 44,735 shares of the financial services provider's stock worth $1,121,000 after purchasing an additional 9,313 shares during the period. Barclays PLC boosted its position in ConnectOne Bancorp by 52.0% in 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of ConnectOne Bancorp by 0.8% in 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. Wilmington Savings Fund Society FSB purchased a new stake in ConnectOne Bancorp in the 3rd quarter worth approximately $305,000. Finally, Franklin Resources Inc. lifted its stake in shares of ConnectOne Bancorp by 52.8% during the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider's stock valued at $6,262,000 after buying an additional 83,950 shares in the last quarter. Hedge funds and other institutional investors own 67.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CNOB. Keefe, Bruyette & Woods lowered their price objective on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Hovde Group raised their target price on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a research report on Thursday, April 24th.

ConnectOne Bancorp Stock Performance

ConnectOne Bancorp stock traded down $0.21 during midday trading on Wednesday, hitting $22.53. 196,852 shares of the company were exchanged, compared to its average volume of 198,593. The business has a fifty day simple moving average of $23.16 and a two-hundred day simple moving average of $24.57. The firm has a market capitalization of $866.73 million, a PE ratio of 12.73 and a beta of 1.09. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. 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 - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.05. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. The firm had revenue of $70.21 million for the quarter, compared to the consensus estimate of $67.90 million. On average, sell-side analysts forecast 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 will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp's payout ratio is 38.92%.

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.