Jane Street Group LLC Acquires 9,313 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Jane Street Group LLC raised its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 26.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 44,735 shares of the financial services provider’s stock after purchasing an additional 9,313 shares during the period. Jane Street Group LLC owned 0.12% of ConnectOne Bancorp worth $1,121,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ConnectOne Bancorp in the 3rd quarter worth approximately $743,000. Stieven Capital Advisors L.P. acquired a new position in ConnectOne Bancorp in the third quarter valued at $6,488,000. Thrivent Financial for Lutherans bought a new stake in ConnectOne Bancorp during the second quarter valued at $1,648,000. Cornercap Investment Counsel Inc. grew its holdings in ConnectOne Bancorp by 111.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock worth $1,047,000 after acquiring an additional 29,161 shares during the period. Finally, Stifel Financial Corp raised its position in shares of ConnectOne Bancorp by 4.0% in the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider’s stock worth $2,296,000 after acquiring an additional 3,565 shares in the last quarter. 67.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Price Performance

CNOB stock opened at $22.65 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50-day moving average is $25.98 and its 200-day moving average is $23.81. The stock has a market capitalization of $869.08 million, a PE ratio of 13.02 and a beta of 1.27. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 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.