Proficio Capital Partners LLC Purchases New Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Proficio Capital Partners LLC bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,358 shares of the financial services provider’s stock, valued at approximately $375,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of ConnectOne Bancorp by 52.0% in the 3rd 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 during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth about $743,000. Salzhauer Michael increased its position in shares of ConnectOne Bancorp by 15.4% during the fourth 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. Stifel Financial Corp increased its stake in ConnectOne Bancorp by 4.0% in the third 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 period. Finally, Victory Capital Management Inc. lifted its position in ConnectOne Bancorp by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider’s stock worth $1,191,000 after acquiring an additional 2,780 shares during the period. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

ConnectOne Bancorp stock opened at $23.73 on Wednesday. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. The stock’s 50 day moving average price is $24.65 and its 200 day moving average price is $25.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $910.62 million, a PE ratio of 13.41 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.03%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 40.68%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price objective on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

ConnectOne Bancorp Company 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.