Connor Clark & Lunn Investment Management Ltd. Has $1.11 Million Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 63.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,596 shares of the financial services provider’s stock after acquiring an additional 18,953 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.13% of ConnectOne Bancorp worth $1,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Avantax Advisory Services Inc. increased its position in shares of ConnectOne Bancorp by 30.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 29,279 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 6,849 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at about $1,303,000. Proficio Capital Partners LLC acquired a new position in ConnectOne Bancorp during the fourth quarter worth approximately $375,000. Victory Capital Management Inc. increased its position in ConnectOne Bancorp by 5.6% during the fourth quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider’s stock worth $1,191,000 after buying an additional 2,780 shares during the last quarter. Finally, Denali Advisors LLC increased its position in ConnectOne Bancorp by 11.2% during the fourth quarter. Denali Advisors LLC now owns 36,800 shares of the financial services provider’s stock worth $843,000 after buying an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on 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 Price Performance

Shares of NASDAQ CNOB opened at $23.59 on Friday. The business’s 50 day moving average price is $24.54 and its two-hundred day moving average price is $25.03. The company has a market cap of $905.24 million, a PE ratio of 13.33 and a beta of 1.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a twelve month low of $17.07 and a twelve month high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data 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 return on equity of 6.77% and a net margin of 13.80%. On average, analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.05%. 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.