Bank of New York Mellon Corp Has $4.14 Million Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Bank of New York Mellon Corp boosted its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218,936 shares of the financial services provider’s stock after buying an additional 5,186 shares during the quarter. Bank of New York Mellon Corp’s holdings in ConnectOne Bancorp were worth $4,136,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of ConnectOne Bancorp by 10.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,198 shares of the financial services provider’s stock worth $10,039,000 after acquiring an additional 41,010 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in ConnectOne Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,270,093 shares of the financial services provider’s stock worth $52,009,000 after purchasing an additional 58,277 shares during the last quarter. Trexquant Investment LP lifted its holdings in ConnectOne Bancorp by 11.2% in the 4th quarter. Trexquant Investment LP now owns 21,936 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 2,206 shares during the last quarter. Quest Partners LLC bought a new stake in ConnectOne Bancorp during the fourth quarter worth approximately $165,000. Finally, Parallel Advisors LLC grew its holdings in ConnectOne Bancorp by 206.8% during the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 757 shares during the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.

ConnectOne Bancorp Price Performance

NASDAQ:CNOB opened at $24.69 on Friday. 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 company has a 50-day moving average of $22.79 and a 200-day moving average of $20.29. ConnectOne Bancorp, Inc. has a 52 week low of $14.51 and a 52 week high of $25.71. The company has a market capitalization of $947.36 million, a price-to-earnings ratio of 13.06 and a beta of 1.25.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $134.41 million during the quarter, compared to analysts’ expectations of $64.62 million. ConnectOne Bancorp had a return on equity of 7.13% and a net margin of 14.56%. During the same period last year, the business earned $0.51 earnings per share. As a group, equities research analysts anticipate that ConnectOne Bancorp, Inc. will post 1.76 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.92%. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 38.10%.

Wall Street Analysts Forecast Growth

CNOB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

ConnectOne Bancorp 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.