ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOBFree Report) by 13.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 20,138 shares of the financial services provider’s stock after selling 3,173 shares during the period. New York Life Investment Management LLC’s holdings in ConnectOne Bancorp were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE grew its stake in shares of ConnectOne Bancorp by 98.6% during the 2nd quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 840 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of ConnectOne Bancorp during the 1st quarter worth $29,000. Group One Trading L.P. purchased a new position in shares of ConnectOne Bancorp in the 1st quarter worth about $32,000. Osaic Holdings Inc. lifted its stake in shares of ConnectOne Bancorp by 315.3% during the second quarter. Osaic Holdings Inc. now owns 11,192 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 8,497 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in ConnectOne Bancorp by 69.4% in the third quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 866 shares in the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CNOB shares. Keefe, Bruyette & Woods raised their target price on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Piper Sandler raised their target price on ConnectOne Bancorp from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, January 26th. TheStreet cut ConnectOne Bancorp from a “b-” rating to a “c+” rating in a research report on Monday, November 13th. Finally, Raymond James raised their target price on ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $25.25.

View Our Latest Stock Analysis on ConnectOne Bancorp

ConnectOne Bancorp Trading Up 2.7 %

Shares of CNOB stock opened at $20.58 on Monday. ConnectOne Bancorp, Inc. has a 12-month low of $13.11 and a 12-month high of $24.89. The firm has a 50 day moving average price of $22.50 and a two-hundred day moving average price of $19.98. The company has a market capitalization of $794.59 million, a PE ratio of 9.94 and a beta of 1.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a yield of 3.30%. ConnectOne Bancorp’s dividend payout ratio (DPR) is 32.85%.

Insiders Place Their Bets

In other news, Director Stephen T. Boswell bought 8,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average price of $18.95 per share, for a total transaction of $151,600.00. Following the completion of the acquisition, the director now directly owns 75,710 shares in the company, valued at $1,434,704.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.18% of the company’s stock.

ConnectOne Bancorp Profile

(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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