Raymond James Financial Inc. Buys New Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Raymond James Financial Inc. purchased a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 56,862 shares of the financial services provider’s stock, valued at approximately $1,303,000. Raymond James Financial Inc. owned approximately 0.15% of ConnectOne Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNOB. BNP Paribas Financial Markets lifted its position in shares of ConnectOne Bancorp by 13.7% during the third quarter. BNP Paribas Financial Markets now owns 55,284 shares of the financial services provider’s stock worth $1,385,000 after purchasing an additional 6,668 shares in the last quarter. Centiva Capital LP purchased a new stake in ConnectOne Bancorp during the 3rd quarter worth $363,000. Jacobs Levy Equity Management Inc. lifted its holdings 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 worth $760,000 after buying an additional 1,605 shares in the last quarter. Stifel Financial Corp boosted its position in ConnectOne Bancorp by 4.0% in the 3rd 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. Finally, Wellington Management Group LLP acquired a new stake in shares of ConnectOne Bancorp during the third quarter valued at about $14,127,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Down 0.2 %

CNOB stock opened at $24.16 on Thursday. The company has a market capitalization of $927.12 million, a P/E ratio of 13.65 and a beta of 1.29. The firm has a 50 day simple moving average of $24.81 and a 200-day simple moving average of $25.02. 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 twelve month low of $17.07 and a twelve month high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is presently 40.68%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $31.00 to $32.00 in a research note on Wednesday, March 26th.

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.