ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Stake Increased by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 633,599 shares of the financial services provider’s stock after acquiring an additional 85,437 shares during the quarter. American Century Companies Inc. owned approximately 1.65% of ConnectOne Bancorp worth $11,969,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of ConnectOne Bancorp by 206.8% during the fourth quarter. Parallel Advisors LLC now owns 1,123 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 757 shares during the last quarter. Quest Partners LLC bought a new stake in ConnectOne Bancorp in the fourth quarter valued at about $165,000. Bryn Mawr Capital Management LLC acquired a new stake in ConnectOne Bancorp during the second quarter valued at approximately $171,000. Principal Financial Group Inc. bought a new position in ConnectOne Bancorp during the 1st quarter worth approximately $381,000. Finally, GSA Capital Partners LLP acquired a new position in shares of ConnectOne Bancorp in the 1st quarter worth approximately $461,000. 67.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNOB shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. Piper Sandler raised their price target on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

ConnectOne Bancorp Stock Down 3.0 %

ConnectOne Bancorp stock opened at $25.46 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. ConnectOne Bancorp, Inc. has a one year low of $14.51 and a one year high of $26.53. The company has a 50-day simple moving average of $23.55 and a 200-day simple moving average of $20.53. The firm has a market capitalization of $975.96 million, a P/E ratio of 13.47 and a beta of 1.25.

ConnectOne Bancorp (NASDAQ:CNOB) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $134.41 million during the quarter, compared to analysts’ expectations of $64.62 million. ConnectOne Bancorp had a net margin of 14.56% and a return on equity of 7.13%. During the same quarter in the prior year, the firm earned $0.51 EPS. As a group, equities analysts expect that ConnectOne Bancorp, Inc. will post 1.76 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, August 15th. ConnectOne Bancorp’s payout ratio is currently 38.10%.

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.