ConnectOne Bancorp, Inc. (CNOB) Holdings Increased by Nationwide Fund Advisors
Nationwide Fund Advisors grew its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,343 shares of the financial services provider’s stock after purchasing an additional 582 shares during the period. Nationwide Fund Advisors owned about 0.07% of ConnectOne Bancorp worth $504,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in ConnectOne Bancorp by 9.5% in the first quarter. Legal & General Group Plc now owns 7,568 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 659 shares during the period. Karp Capital Management Corp purchased a new stake in ConnectOne Bancorp in the first quarter worth $218,000. Trexquant Investment LP purchased a new stake in ConnectOne Bancorp in the second quarter worth $227,000. Aperio Group LLC grew its position in shares of ConnectOne Bancorp by 28.2% during the 2nd quarter. Aperio Group LLC now owns 11,542 shares of the financial services provider’s stock worth $260,000 after buying an additional 2,541 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC grew its position in shares of ConnectOne Bancorp by 6.3% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 17,000 shares of the financial services provider’s stock worth $383,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.
ConnectOne Bancorp, Inc. (NASDAQ CNOB) opened at $27.10 on Friday. The stock has a market capitalization of $864.41 million, a PE ratio of 16.36 and a beta of 0.97. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.15 and a quick ratio of 1.13.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Friday, October 13th. ConnectOne Bancorp’s payout ratio is 31.58%.
A number of equities analysts have recently issued reports on CNOB shares. Zacks Investment Research raised ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research report on Monday, October 30th. BidaskClub downgraded ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Piper Jaffray Companies reissued a “buy” rating and set a $29.00 price target on shares of ConnectOne Bancorp in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $32.00 price target on shares of ConnectOne Bancorp in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $29.50.
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ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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