Knights of Columbus Asset Advisors LLC lifted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 118.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 246,232 shares of the financial services provider's stock after buying an additional 133,384 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.64% of ConnectOne Bancorp worth $5,641,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in ConnectOne Bancorp by 13.3% in the 2nd quarter. BlackRock Inc. now owns 3,577,856 shares of the financial services provider's stock valued at $59,357,000 after purchasing an additional 419,953 shares during the last quarter. FMR LLC raised its position in ConnectOne Bancorp by 27.0% in the 3rd quarter. FMR LLC now owns 3,500,507 shares of the financial services provider's stock valued at $62,414,000 after purchasing an additional 743,209 shares during the last quarter. Dimensional Fund Advisors LP raised its position in ConnectOne Bancorp by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,654,948 shares of the financial services provider's stock valued at $46,939,000 after purchasing an additional 65,356 shares during the last quarter. Vanguard Group Inc. raised its position in ConnectOne Bancorp by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,045,578 shares of the financial services provider's stock valued at $36,473,000 after purchasing an additional 14,564 shares during the last quarter. Finally, State Street Corp raised its position in ConnectOne Bancorp by 12.4% in the 2nd quarter. State Street Corp now owns 1,136,382 shares of the financial services provider's stock valued at $18,853,000 after purchasing an additional 125,346 shares during 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 equities analysts have commented on CNOB shares. Raymond James upped their price objective on shares of ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a "strong-buy" rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods upped their price objective on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Finally, Piper Sandler upped their price objective on shares of ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, January 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $25.25.
View Our Latest Analysis on ConnectOne Bancorp
ConnectOne Bancorp Price Performance
NASDAQ CNOB traded up $0.54 during trading hours on Friday, reaching $18.64. The company's stock had a trading volume of 227,599 shares, compared to its average volume of 133,237. The stock has a market cap of $714.47 million, a PE ratio of 9.00 and a beta of 1.25. ConnectOne Bancorp, Inc. has a fifty-two week low of $13.11 and a fifty-two week high of $24.44. The company's 50-day moving average is $19.30 and its two-hundred day moving average is $20.01. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 1.14.
ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. The company had revenue of $66.03 million for the quarter, compared to analysts' expectations of $65.50 million. Analysts forecast that ConnectOne Bancorp, Inc. will post 1.76 EPS for the current year.
ConnectOne Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 3.65%. ConnectOne Bancorp's payout ratio is currently 32.85%.
About ConnectOne Bancorp
(
Free Report)
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.
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