B. Riley Wealth Advisors Inc. Sells 40,334 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

B. Riley Wealth Advisors Inc. decreased its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 66.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,569 shares of the financial services provider’s stock after selling 40,334 shares during the quarter. B. Riley Wealth Advisors Inc. owned about 0.05% of ConnectOne Bancorp worth $471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC boosted its position in ConnectOne Bancorp by 206.8% during the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 757 shares during the last quarter. Swiss National Bank boosted its position in shares of ConnectOne Bancorp by 1.2% during the 3rd quarter. Swiss National Bank now owns 81,900 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 1,000 shares in the last quarter. Trexquant Investment LP grew its stake in ConnectOne Bancorp by 11.2% during the fourth quarter. Trexquant Investment LP now owns 21,936 shares of the financial services provider’s stock worth $503,000 after purchasing an additional 2,206 shares during the period. Sound Income Strategies LLC acquired a new stake in ConnectOne Bancorp during the fourth quarter worth approximately $53,000. Finally, GAMMA Investing LLC acquired a new position in ConnectOne Bancorp in the fourth quarter valued at approximately $80,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

Shares of NASDAQ:CNOB opened at $17.45 on Monday. ConnectOne Bancorp, Inc. has a twelve month low of $14.51 and a twelve month high of $24.44. The stock’s 50 day moving average is $18.91 and its 200-day moving average is $20.30. 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 firm has a market capitalization of $668.86 million, a price-to-earnings ratio of 9.23 and a beta of 1.27.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.01). ConnectOne Bancorp had a return on equity of 7.39% and a net margin of 15.29%. The business had revenue of $64.15 million for the quarter, compared to analyst estimates of $63.93 million. Sell-side analysts forecast that ConnectOne Bancorp, Inc. will post 1.66 EPS for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.13%. This is an increase from ConnectOne Bancorp’s previous quarterly dividend of $0.17. ConnectOne Bancorp’s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CNOB shares. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $22.00 price target (down from $24.00) on shares of ConnectOne Bancorp in a report on Friday, May 31st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.