Wilmington Savings Fund Society FSB Makes New Investment in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wilmington Savings Fund Society FSB acquired a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the 3rd quarter, HoldingsChannel reports. The fund acquired 12,174 shares of the financial services provider’s stock, valued at approximately $305,000.

Other hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of ConnectOne Bancorp by 6.7% during the 2nd 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. Jacobs Levy Equity Management Inc. raised its stake in ConnectOne Bancorp by 5.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 30,343 shares of the financial services provider’s stock valued at $760,000 after purchasing an additional 1,605 shares during the last quarter. Principal Financial Group Inc. raised its stake in ConnectOne Bancorp by 8.2% in the 2nd quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 1,606 shares during the last quarter. Palouse Capital Management Inc. raised its stake in ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its stake in ConnectOne Bancorp by 2.1% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider’s stock valued at $2,200,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CNOB shares. Keefe, Bruyette & Woods increased their price objective on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th.

ConnectOne Bancorp Stock Down 3.1 %

Shares of NASDAQ:CNOB opened at $25.58 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $26.40 and a two-hundred day moving average of $23.48. The stock has a market cap of $981.50 million, a P/E ratio of 14.70 and a beta of 1.27. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is presently 41.38%.

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.