ConnectOne Bancorp, Inc. $CNOB Shares Bought by CenterBook Partners LP

CenterBook Partners LP increased its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 116.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 117,868 shares of the financial services provider’s stock after purchasing an additional 63,519 shares during the quarter. CenterBook Partners LP’s holdings in ConnectOne Bancorp were worth $3,090,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of ConnectOne Bancorp by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 8,716 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 560 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of ConnectOne Bancorp by 195.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,330 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 880 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ConnectOne Bancorp by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,537 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 914 shares during the last quarter. EJF Capital LLC raised its holdings in shares of ConnectOne Bancorp by 3.7% during the third quarter. EJF Capital LLC now owns 30,214 shares of the financial services provider’s stock valued at $750,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of ConnectOne Bancorp by 728.4% during the second quarter. Osaic Holdings Inc. now owns 1,781 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 1,566 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CNOB shares. Weiss Ratings raised ConnectOne Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, May 20th. Hovde Group increased their target price on ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Raymond James Financial reissued a “strong-buy” rating and set a $34.00 target price on shares of ConnectOne Bancorp in a report on Monday, April 27th. Keefe, Bruyette & Woods increased their target price on ConnectOne Bancorp from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Piper Sandler started coverage on ConnectOne Bancorp in a report on Monday, March 16th. They set an “overweight” rating and a $31.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, ConnectOne Bancorp presently has a consensus rating of “Buy” and a consensus price target of $33.25.

ConnectOne Bancorp Price Performance

CNOB stock opened at $31.15 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day simple moving average of $28.96 and a 200-day simple moving average of $27.51. The firm has a market capitalization of $1.57 billion, a PE ratio of 18.01 and a beta of 1.06. ConnectOne Bancorp, Inc. has a 1 year low of $21.79 and a 1 year high of $31.33.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.06. The company had revenue of $116.64 million during the quarter, compared to analyst estimates of $119.59 million. ConnectOne Bancorp had a return on equity of 10.17% and a net margin of 13.21%. Equities research analysts anticipate that ConnectOne Bancorp, Inc. will post 3.3 earnings per share for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.195 dividend. The ex-dividend date was Friday, May 15th. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.18. This represents a $0.78 annualized dividend and a yield of 2.5%. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 45.09%.

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.