Charles Schwab Investment Management Inc. Boosts Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Charles Schwab Investment Management Inc. grew its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOBFree Report) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438,198 shares of the financial services provider’s stock after purchasing an additional 41,010 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.14% of ConnectOne Bancorp worth $10,039,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNOB. FMR LLC grew its position in ConnectOne Bancorp by 27.0% during the third quarter. FMR LLC now owns 3,500,507 shares of the financial services provider’s stock valued at $62,414,000 after acquiring an additional 743,209 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its stake in ConnectOne Bancorp by 118.2% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 246,232 shares of the financial services provider’s stock worth $5,641,000 after purchasing an additional 133,384 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in ConnectOne Bancorp during the third quarter valued at about $1,086,000. Vanguard Group Inc. grew its stake in shares of ConnectOne Bancorp by 0.7% during the third quarter. Vanguard Group Inc. now owns 2,045,578 shares of the financial services provider’s stock valued at $36,473,000 after buying an additional 14,564 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of ConnectOne Bancorp by 94.0% during the third quarter. New York State Common Retirement Fund now owns 28,924 shares of the financial services provider’s stock valued at $516,000 after buying an additional 14,012 shares during the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Price Performance

Shares of NASDAQ:CNOB opened at $18.91 on Friday. The business has a fifty day moving average price of $19.21 and a 200-day moving average price of $20.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $724.82 million, a PE ratio of 10.01 and a beta of 1.25. ConnectOne Bancorp, Inc. has a 1-year low of $13.15 and a 1-year high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOBGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The firm had revenue of $64.15 million for the quarter, compared to the consensus estimate of $63.93 million. ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.39%. As a group, equities analysts expect that ConnectOne Bancorp, Inc. will post 1.67 EPS for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.18 dividend. This is a positive change from ConnectOne Bancorp’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.81%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 38.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CNOB shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $24.00 price objective (down previously from $27.00) on shares of ConnectOne Bancorp in a research note on Friday, April 26th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $24.50.

View Our Latest Stock Report on CNOB

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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Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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