Wellington Management Group LLP Has $9.63 Million Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wellington Management Group LLP lowered its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 25.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 420,166 shares of the financial services provider's stock after selling 143,771 shares during the period. Wellington Management Group LLP owned about 1.09% of ConnectOne Bancorp worth $9,626,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP boosted its position in shares of ConnectOne Bancorp by 1.7% during the fourth quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider's stock worth $541,000 after buying an additional 389 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ConnectOne Bancorp by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,623 shares of the financial services provider's stock worth $472,000 after buying an additional 722 shares during the period. Sterling Capital Management LLC boosted its position in shares of ConnectOne Bancorp by 792.3% during the fourth quarter. Sterling Capital Management LLC now owns 1,160 shares of the financial services provider's stock worth $27,000 after buying an additional 1,030 shares during the period. MetLife Investment Management LLC lifted its position in ConnectOne Bancorp by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider's stock worth $511,000 after purchasing an additional 1,202 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in ConnectOne Bancorp by 5.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,924 shares of the financial services provider's stock worth $915,000 after purchasing an additional 2,218 shares during the period. Institutional investors own 67.70% of the company's stock.

Wall Street Analyst Weigh In

CNOB has been the subject of a number of research analyst reports. Hovde Group upped their target price on ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods cut their target price on ConnectOne Bancorp from $32.00 to $31.00 and set an "outperform" rating for the company in a research report on Friday, April 25th.

ConnectOne Bancorp Price Performance

Shares of NASDAQ CNOB traded up $0.46 during trading on Friday, hitting $23.02. The company had a trading volume of 203,171 shares, compared to its average volume of 206,590. The company has a market cap of $885.58 million, a P/E ratio of 13.01 and a beta of 1.12. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The business's 50-day moving average is $22.74 and its 200 day moving average is $24.06. 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 posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $70.21 million for the quarter, compared to analysts' expectations of $67.90 million. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Equities research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. ConnectOne Bancorp's dividend payout ratio is currently 38.92%.

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.