ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 13.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,924 shares of the financial services provider’s stock after selling 7,166 shares during the quarter. Janney Montgomery Scott LLC owned about 0.12% of ConnectOne Bancorp worth $1,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in shares of ConnectOne Bancorp by 0.8% during the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider’s stock worth $21,359,000 after purchasing an additional 6,880 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of ConnectOne Bancorp in the third quarter valued at approximately $14,127,000. Banc Funds Co. LLC increased its holdings in shares of ConnectOne Bancorp by 1.0% in the 3rd quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock valued at $12,252,000 after acquiring an additional 5,000 shares during the period. Stieven Capital Advisors L.P. purchased a new stake in ConnectOne Bancorp in the 3rd quarter valued at $6,488,000. Finally, Franklin Resources Inc. boosted its stake in ConnectOne Bancorp by 52.8% during the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after purchasing an additional 83,950 shares during the period. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Stock Up 0.6 %

CNOB stock opened at $26.44 on Thursday. The stock has a market capitalization of $1.01 billion, a PE ratio of 14.94 and a beta of 1.30. The company has a fifty day moving average of $24.30 and a 200-day moving average of $24.64. 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 $17.07 and a one year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. As a group, analysts expect that ConnectOne Bancorp, Inc. will post 2.19 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Tuesday, February 18th. ConnectOne Bancorp’s dividend payout ratio is presently 40.68%.

Wall Street Analysts Forecast Growth

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

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.