Quantbot Technologies LP Acquires Shares of 8,938 ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Quantbot Technologies LP bought a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the fourth quarter, HoldingsChannel.com reports. The fund bought 8,938 shares of the financial services provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its stake in ConnectOne Bancorp by 5.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 30,343 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 1,605 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ConnectOne Bancorp by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 52,000 shares of the financial services provider’s stock valued at $1,191,000 after purchasing an additional 2,780 shares during the last quarter. Stifel Financial Corp increased its position in shares of ConnectOne Bancorp by 4.0% during the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider’s stock valued at $2,296,000 after purchasing an additional 3,565 shares during the last quarter. Denali Advisors LLC raised its holdings in ConnectOne Bancorp by 11.2% during the 4th quarter. Denali Advisors LLC now owns 36,800 shares of the financial services provider’s stock valued at $843,000 after buying an additional 3,700 shares during the period. Finally, Banc Funds Co. LLC lifted its position in ConnectOne Bancorp by 1.0% in 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 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 raised shares of ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and increased their target price for the company from $31.00 to $32.00 in a research note on Wednesday.

ConnectOne Bancorp Stock Down 1.3 %

Shares of NASDAQ:CNOB opened at $24.20 on Friday. The firm has a market capitalization of $928.65 million, a PE ratio of 13.67 and a beta of 1.30. The business has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $25.02. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 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.

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

ConnectOne Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is presently 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.