Barclays PLC Boosts Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Barclays PLC lifted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,501 shares of the financial services provider’s stock after purchasing an additional 10,793 shares during the period. Barclays PLC owned about 0.33% of ConnectOne Bancorp worth $2,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CNOB. Stieven Capital Advisors L.P. raised its holdings in shares of ConnectOne Bancorp by 96.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock valued at $11,644,000 after acquiring an additional 249,265 shares during the last quarter. Franklin Resources Inc. lifted its holdings in ConnectOne Bancorp by 52.8% in the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock valued at $6,262,000 after purchasing an additional 83,950 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in ConnectOne Bancorp by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock worth $5,746,000 after purchasing an additional 61,165 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $1,303,000. Finally, American Century Companies Inc. lifted its stake in shares of ConnectOne Bancorp by 6.9% in the fourth quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider’s stock worth $17,680,000 after buying an additional 49,943 shares in the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNOB. Keefe, Bruyette & Woods cut their price objective on shares of ConnectOne Bancorp from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, April 25th. Hovde Group raised their price objective on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an “outperform” rating in a research report on Thursday, April 24th.

ConnectOne Bancorp Trading Down 0.4 %

NASDAQ CNOB opened at $22.74 on Wednesday. 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 stock has a market capitalization of $874.81 million, a P/E ratio of 12.85 and a beta of 1.09. The firm’s 50-day moving average is $23.16 and its two-hundred day moving average is $24.57. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.05. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. The firm had revenue of $70.21 million during the quarter, compared to analysts’ expectations of $67.90 million. On average, sell-side analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.17%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp’s dividend payout ratio is currently 38.92%.

ConnectOne Bancorp Profile

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.