B. Riley Wealth Advisors Inc. Sells 40,334 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

B. Riley Wealth Advisors Inc. decreased its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 66.2% during the fourth quarter, HoldingsChannel reports. The fund owned 20,569 shares of the financial services provider’s stock after selling 40,334 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in ConnectOne Bancorp were worth $471,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of ConnectOne Bancorp by 206.8% in the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after buying an additional 757 shares during the period. Sound Income Strategies LLC bought a new position in ConnectOne Bancorp in the 4th quarter valued at $53,000. GAMMA Investing LLC purchased a new stake in ConnectOne Bancorp in the fourth quarter worth $80,000. Quest Partners LLC purchased a new stake in ConnectOne Bancorp in the fourth quarter worth $165,000. Finally, Bryn Mawr Capital Management LLC bought a new stake in shares of ConnectOne Bancorp during the fourth quarter worth $207,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Down 1.0 %

Shares of ConnectOne Bancorp stock opened at $17.45 on Monday. ConnectOne Bancorp, Inc. has a 1 year low of $14.51 and a 1 year high of $24.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $668.86 million, a price-to-earnings ratio of 9.23 and a beta of 1.27. The firm’s 50-day moving average is $18.91 and its two-hundred day moving average is $20.30.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $64.15 million for the quarter, compared to the consensus estimate of $63.93 million. ConnectOne Bancorp had a net margin of 15.29% and a return on equity of 7.39%. As a group, research analysts expect that ConnectOne Bancorp, Inc. will post 1.66 earnings per share for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 15th were paid a dividend of $0.18 per share. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date of this dividend was Tuesday, May 14th. ConnectOne Bancorp’s dividend payout ratio is 38.10%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNOB shares. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $22.00 target price (down from $24.00) on shares of ConnectOne Bancorp in a research report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.