Empowered Funds LLC Has $3.30 Million Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Empowered Funds LLC grew its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,981 shares of the financial services provider’s stock after buying an additional 7,009 shares during the quarter. Empowered Funds LLC owned approximately 0.38% of ConnectOne Bancorp worth $3,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Copeland Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at about $53,000. Palouse Capital Management Inc. raised its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,607 shares in the last quarter. Serenus Wealth Advisors LLC bought a new position in shares of ConnectOne Bancorp in the 4th quarter valued at approximately $209,000. Zacks Investment Management bought a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at approximately $232,000. Finally, SG Americas Securities LLC bought a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at approximately $246,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ CNOB opened at $26.86 on Thursday. 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 business’s 50 day moving average is $24.26 and its two-hundred day moving average is $24.76. The company has a market cap of $1.03 billion, a P/E ratio of 15.18 and a beta of 1.30. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, topping 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%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is currently 40.68%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Keefe, Bruyette & Woods raised their price objective on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

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.