Bank of New York Mellon Corp Has $5.75 Million Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Bank of New York Mellon Corp raised its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 32.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,818 shares of the financial services provider’s stock after buying an additional 61,165 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of ConnectOne Bancorp worth $5,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at approximately $14,127,000. Stieven Capital Advisors L.P. acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at approximately $6,488,000. Franklin Resources Inc. raised its position in ConnectOne Bancorp by 52.8% in the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock valued at $6,262,000 after buying an additional 83,950 shares during the last quarter. Barclays PLC grew its stake in ConnectOne Bancorp by 52.0% in the third quarter. Barclays PLC now owns 114,708 shares of the financial services provider’s stock valued at $2,874,000 after purchasing an additional 39,249 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in ConnectOne Bancorp in the third quarter valued at approximately $743,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Price Performance

ConnectOne Bancorp stock opened at $23.33 on Monday. The stock has a market capitalization of $895.27 million, a P/E ratio of 13.18 and a beta of 1.30. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a fifty day moving average of $24.46 and a 200-day moving average of $25.07.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.09%. ConnectOne Bancorp’s payout ratio is 40.68%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted 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 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.