New York State Common Retirement Fund Sells 1,200 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

New York State Common Retirement Fund lessened its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,130 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. New York State Common Retirement Fund’s holdings in ConnectOne Bancorp were worth $530,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC boosted its stake in ConnectOne Bancorp by 52.0% in the third quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock valued at $2,874,000 after buying an additional 39,249 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ConnectOne Bancorp in the 3rd quarter valued at approximately $743,000. Stieven Capital Advisors L.P. bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at approximately $6,488,000. Salzhauer Michael increased its position in ConnectOne Bancorp by 15.4% during the 4th quarter. Salzhauer Michael now owns 76,496 shares of the financial services provider’s stock worth $1,753,000 after purchasing an additional 10,236 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in ConnectOne Bancorp by 4.0% in the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider’s stock valued at $2,296,000 after purchasing an additional 3,565 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CNOB shares. Keefe, Bruyette & Woods upped their price target on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

ConnectOne Bancorp Trading Down 3.4 %

Shares of NASDAQ CNOB opened at $24.39 on Wednesday. The firm has a 50 day moving average price of $24.36 and a two-hundred day moving average price of $25.09. The stock has a market cap of $935.94 million, a P/E ratio of 13.78 and a beta of 1.30. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. As a group, equities analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is currently 40.68%.

About ConnectOne Bancorp

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.