Charles Schwab Investment Management Inc. Decreases Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Charles Schwab Investment Management Inc. reduced its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 340,320 shares of the financial services provider's stock after selling 42,204 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.89% of ConnectOne Bancorp worth $7,797,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Serenus Wealth Advisors LLC purchased a new position in shares of ConnectOne Bancorp during the fourth quarter worth about $209,000. Zacks Investment Management acquired a new stake in shares of ConnectOne Bancorp in the 3rd quarter valued at about $232,000. Wilmington Savings Fund Society FSB purchased a new position in ConnectOne Bancorp during the 3rd quarter worth approximately $305,000. SG Americas Securities LLC grew its stake in ConnectOne Bancorp by 52.5% during the 4th quarter. SG Americas Securities LLC now owns 14,992 shares of the financial services provider's stock worth $343,000 after buying an additional 5,158 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in ConnectOne Bancorp during the third quarter worth approximately $363,000. Hedge funds and other institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Stock Performance

Shares of CNOB traded down $0.05 during mid-day trading on Thursday, hitting $24.51. 143,923 shares of the company's stock were exchanged, compared to its average volume of 184,071. The business's 50 day moving average is $24.68 and its two-hundred day moving average is $25.02. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The firm has a market capitalization of $940.55 million, a P/E ratio of 13.85 and a beta of 1.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

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ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, beating 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%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.94%. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 40.68%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $31.00 to $32.00 in a report on Wednesday.

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.