Hennessy Advisors Inc. boosted its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the financial services provider’s stock after buying an additional 5,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.78% of ConnectOne Bancorp worth $6,150,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc grew its position in ConnectOne Bancorp by 9.5% in the 1st quarter. Legal & General Group Plc now owns 7,568 shares of the financial services provider’s stock valued at $181,000 after buying an additional 659 shares during the last quarter. Benchmark Capital Advisors purchased a new position in ConnectOne Bancorp in the 3rd quarter valued at $202,000. Clear Harbor Asset Management LLC purchased a new position in ConnectOne Bancorp in the 3rd quarter valued at $209,000. Trexquant Investment LP purchased a new position in ConnectOne Bancorp in the 2nd quarter valued at $227,000. Finally, GSA Capital Partners LLP purchased a new position in ConnectOne Bancorp in the 2nd quarter valued at $244,000. Hedge funds and other institutional investors own 67.68% of the company’s stock.
A number of research firms recently weighed in on CNOB. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.50 price objective on shares of ConnectOne Bancorp in a research report on Wednesday, November 1st. BidaskClub raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research raised ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 target price for the company in a report on Monday, October 30th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $32.00 target price on shares of ConnectOne Bancorp in a report on Thursday, October 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ConnectOne Bancorp has an average rating of “Buy” and an average target price of $29.50.
ConnectOne Bancorp, Inc. (CNOB) traded down $0.15 during trading on Friday, reaching $25.75. The company’s stock had a trading volume of 56,238 shares, compared to its average volume of 100,773. ConnectOne Bancorp, Inc. has a 12 month low of $20.20 and a 12 month high of $27.40. The company has a current ratio of 0.98, a quick ratio of 1.13 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $829.20, a P/E ratio of 15.70 and a beta of 0.97.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Friday, October 13th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 31.58%.
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ConnectOne Bancorp Profile
ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.
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