Proficio Capital Partners LLC Acquires Shares of 16,358 ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Proficio Capital Partners LLC bought a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 16,358 shares of the financial services provider’s stock, valued at approximately $375,000.

Other institutional investors also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its holdings in shares of ConnectOne Bancorp by 5.6% during 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 acquiring an additional 1,605 shares during the last quarter. Stifel Financial Corp raised its position in shares of ConnectOne Bancorp by 4.0% during the third quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider’s stock valued at $2,296,000 after buying an additional 3,565 shares during the last quarter. Denali Advisors LLC raised its position in shares of ConnectOne Bancorp by 11.2% during the fourth quarter. Denali Advisors LLC now owns 36,800 shares of the financial services provider’s stock valued at $843,000 after buying an additional 3,700 shares during the last quarter. Banc Funds Co. LLC grew its holdings in shares of ConnectOne Bancorp by 1.0% in the third quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock valued at $12,252,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of ConnectOne Bancorp by 5.6% in the fourth quarter. Hennessy Advisors Inc. now owns 95,000 shares of the financial services provider’s stock valued at $2,176,000 after purchasing an additional 5,000 shares in the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Trading Down 4.2 %

ConnectOne Bancorp stock opened at $22.97 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. The stock’s 50 day simple moving average is $24.46 and its two-hundred day simple moving average is $25.13. The firm has a market cap of $881.45 million, a PE ratio of 12.98 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. Analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp’s payout ratio is 40.68%.

Analysts Set New Price Targets

Several research firms have commented on CNOB. Keefe, Bruyette & Woods lifted their price objective on shares of 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 upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

ConnectOne Bancorp Company 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.