Avantax Advisory Services Inc. Buys 6,849 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Avantax Advisory Services Inc. boosted its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 30.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,279 shares of the financial services provider’s stock after purchasing an additional 6,849 shares during the quarter. Avantax Advisory Services Inc. owned about 0.08% of ConnectOne Bancorp worth $671,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of ConnectOne Bancorp by 0.8% during the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after buying an additional 6,880 shares during the period. Wellington Management Group LLP acquired a new position in shares of ConnectOne Bancorp during the third quarter worth about $14,127,000. Stieven Capital Advisors L.P. boosted its position in shares of ConnectOne Bancorp by 96.2% during the fourth quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after buying an additional 249,265 shares during the period. Banc Funds Co. LLC boosted its position in shares of ConnectOne Bancorp by 1.0% during the third quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock worth $12,252,000 after buying an additional 5,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of ConnectOne Bancorp by 32.3% during the fourth 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 during the period. 67.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $23.55 on Friday. The stock’s fifty day moving average price is $24.58 and its two-hundred day moving average price is $25.02. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31. 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 firm has a market cap of $903.71 million, a PE ratio of 13.31 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating 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%. As a group, research analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 40.68%.

ConnectOne Bancorp Company 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.