SG Americas Securities LLC Buys Shares of 599,235 ConnectOne Bancorp, Inc. $CNOB

SG Americas Securities LLC purchased a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 599,235 shares of the financial services provider’s stock, valued at approximately $15,712,000. SG Americas Securities LLC owned 1.19% of ConnectOne Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of ConnectOne Bancorp by 7.6% in the 1st quarter. AQR Capital Management LLC now owns 74,053 shares of the financial services provider’s stock valued at $1,800,000 after acquiring an additional 5,205 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ConnectOne Bancorp by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 914 shares during the last quarter. Jane Street Group LLC boosted its position in ConnectOne Bancorp by 374.7% during the first quarter. Jane Street Group LLC now owns 64,537 shares of the financial services provider’s stock valued at $1,569,000 after purchasing an additional 50,942 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in ConnectOne Bancorp by 107.9% during the second quarter. PNC Financial Services Group Inc. now owns 1,842 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 956 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in ConnectOne Bancorp by 33.1% in the second quarter. Geode Capital Management LLC now owns 1,160,058 shares of the financial services provider’s stock valued at $26,870,000 after purchasing an additional 288,530 shares during the last quarter. 67.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CNOB shares. Keefe, Bruyette & Woods boosted their price objective on shares of ConnectOne Bancorp from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Piper Sandler assumed coverage on shares of ConnectOne Bancorp in a research note on Monday, March 16th. They issued an “overweight” rating and a $31.00 target price for the company. Wall Street Zen lowered shares of ConnectOne Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ConnectOne Bancorp in a research report on Wednesday, January 21st. Finally, Hovde Group decreased their price objective on ConnectOne Bancorp from $32.50 to $32.00 and set an “outperform” rating for the company in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, ConnectOne Bancorp has an average rating of “Buy” and an average target price of $31.67.

ConnectOne Bancorp Price Performance

Shares of CNOB opened at $26.03 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of 17.35 and a beta of 1.13. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.04 and a quick ratio of 1.04. ConnectOne Bancorp, Inc. has a 1-year low of $20.61 and a 1-year high of $29.28. The company’s fifty day moving average price is $27.02 and its 200-day moving average price is $26.00.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 29th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. ConnectOne Bancorp had a return on equity of 9.33% and a net margin of 11.83%.The company had revenue of $114.63 million during the quarter, compared to analyst estimates of $114.80 million. On average, equities research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, February 13th. ConnectOne Bancorp’s dividend payout ratio is 48.00%.

ConnectOne Bancorp Company Profile

ConnectOne Bancorp is a New Jersey‐based bank holding company whose primary subsidiary, ConnectOne Bank, offers a suite of commercial banking services to small and medium‐sized businesses, professionals and individuals. Established in 2005 and headquartered in Englewood Cliffs, New Jersey, the company seeks to deliver customized lending and deposit solutions through a network of branches across northern New Jersey and the New York metropolitan area.

The company’s lending portfolio centers on commercial real estate financing, construction lending, owner‐occupied real estate loans and working capital lines of credit.