Knights of Columbus Asset Advisors LLC Buys 133,384 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Knights of Columbus Asset Advisors LLC raised its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 118.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 246,232 shares of the financial services provider’s stock after acquiring an additional 133,384 shares during the quarter. Knights of Columbus Asset Advisors LLC owned about 0.64% of ConnectOne Bancorp worth $5,641,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CNOB. BNP Paribas Arbitrage SNC raised its position in shares of ConnectOne Bancorp by 5.6% in the third quarter. BNP Paribas Arbitrage SNC now owns 13,747 shares of the financial services provider’s stock valued at $317,000 after buying an additional 727 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in ConnectOne Bancorp by 1.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 67,614 shares of the financial services provider’s stock worth $1,195,000 after purchasing an additional 809 shares during the period. US Bancorp DE grew its stake in ConnectOne Bancorp by 98.6% during the second quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock worth $28,000 after buying an additional 840 shares in the last quarter. Federated Hermes Inc. raised its position in shares of ConnectOne Bancorp by 69.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock valued at $49,000 after buying an additional 866 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of ConnectOne Bancorp during the 1st quarter worth approximately $29,000. Institutional investors own 67.70% of the company’s stock.

Analysts Set New Price Targets

CNOB has been the subject of several recent analyst reports. Piper Sandler upped their target price on ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods upped their price target on shares of ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Raymond James increased their target price on ConnectOne Bancorp from $26.00 to $28.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $25.25.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB opened at $18.64 on Friday. The company has a market capitalization of $714.47 million, a price-to-earnings ratio of 9.00 and a beta of 1.25. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. ConnectOne Bancorp, Inc. has a twelve month low of $13.11 and a twelve month high of $24.44. The stock has a fifty day simple moving average of $19.34 and a 200 day simple moving average of $20.00.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. The company had revenue of $66.03 million for the quarter, compared to analyst estimates of $65.50 million. Sell-side analysts expect that ConnectOne Bancorp, Inc. will post 1.76 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 3.65%. ConnectOne Bancorp’s payout ratio is 32.85%.

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.