Copeland Capital Management LLC Buys Shares of 2,099 ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Copeland Capital Management LLC bought a new stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,099 shares of the financial services provider’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC acquired a new position in shares of ConnectOne Bancorp during the second quarter worth about $171,000. Evergreen Capital Management LLC acquired a new position in shares of ConnectOne Bancorp during the second quarter worth about $196,000. Palouse Capital Management Inc. boosted its position in shares of ConnectOne Bancorp by 25.1% during the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after buying an additional 1,607 shares during the period. SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp during the third quarter worth about $246,000. Finally, Hsbc Holdings PLC boosted its position in shares of ConnectOne Bancorp by 6.7% during the second quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider’s stock worth $332,000 after buying an additional 1,131 shares during the period. 67.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Piper Sandler upped their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.33.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ CNOB opened at $25.61 on Wednesday. The stock has a 50 day moving average price of $24.66 and a 200 day moving average price of $21.46. ConnectOne Bancorp, Inc. has a 52 week low of $14.51 and a 52 week high of $27.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $981.71 million, a PE ratio of 13.55 and a beta of 1.25.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. ConnectOne Bancorp had a return on equity of 7.13% and a net margin of 14.56%. The firm had revenue of $134.41 million during the quarter, compared to analysts’ expectations of $64.62 million. During the same period in the prior year, the firm posted $0.51 earnings per share. Analysts predict that ConnectOne Bancorp, Inc. will post 1.78 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a $0.18 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.81%. ConnectOne Bancorp’s payout ratio is 38.10%.

ConnectOne Bancorp 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.