Victory Capital Management Inc. Boosts Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Victory Capital Management Inc. boosted its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,000 shares of the financial services provider’s stock after buying an additional 2,780 shares during the period. Victory Capital Management Inc.’s holdings in ConnectOne Bancorp were worth $1,191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth $14,127,000. Stieven Capital Advisors L.P. boosted its position in shares of ConnectOne Bancorp by 96.2% during the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after purchasing an additional 249,265 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of ConnectOne Bancorp by 52.8% during the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after purchasing an additional 83,950 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ConnectOne Bancorp by 32.3% in the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock worth $5,746,000 after buying an additional 61,165 shares in the last quarter. Finally, Barclays PLC boosted its position 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 worth $2,874,000 after buying an additional 39,249 shares in the last quarter. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

ConnectOne Bancorp Trading Up 1.6 %

NASDAQ CNOB opened at $24.01 on Thursday. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. The company has a 50-day moving average of $24.52 and a 200-day moving average of $25.05. 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 company has a market cap of $921.36 million, a P/E ratio of 13.57 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. As a group, equities analysts predict that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is presently 40.68%.

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.