Price T Rowe Associates Inc. MD Purchases 2,218 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Price T Rowe Associates Inc. MD grew its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,924 shares of the financial services provider’s stock after buying an additional 2,218 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.10% of ConnectOne Bancorp worth $915,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNOB. MetLife Investment Management LLC raised its stake in ConnectOne Bancorp by 5.7% in the 4th quarter. MetLife Investment Management LLC now owns 22,323 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 1,202 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in ConnectOne Bancorp by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,294,385 shares of the financial services provider’s stock valued at $52,564,000 after acquiring an additional 8,595 shares in the last quarter. First Trust Advisors LP lifted its position in shares of ConnectOne Bancorp by 1.7% during the 4th quarter. First Trust Advisors LP now owns 23,601 shares of the financial services provider’s stock valued at $541,000 after acquiring an additional 389 shares during the period. Salzhauer Michael grew its holdings in shares of 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, Fourthstone LLC bought a new position in shares of ConnectOne Bancorp in the fourth quarter worth $1,322,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in 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 research report on Friday, April 25th. Hovde Group upped their price target on shares of ConnectOne Bancorp from $29.00 to $29.50 and gave the stock an “outperform” rating in a report on Thursday, April 24th.

ConnectOne Bancorp Stock Performance

ConnectOne Bancorp stock opened at $23.91 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market cap of $919.82 million, a PE ratio of 13.51 and a beta of 1.12. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The business’s 50-day moving average price is $22.90 and its two-hundred day moving average price is $24.43.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $70.21 million for the quarter, compared to analyst estimates of $67.90 million. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. As a group, analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, May 15th. ConnectOne Bancorp’s payout ratio is 38.92%.

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.