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

Charles Schwab Investment Management Inc. reduced its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,524 shares of the financial services provider's stock after selling 39,706 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.00% of ConnectOne Bancorp worth $9,582,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. grew its stake in ConnectOne Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider's stock valued at $11,969,000 after purchasing an additional 85,437 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of ConnectOne Bancorp during the 3rd quarter worth approximately $6,488,000. Bank of New York Mellon Corp lifted its holdings in shares of ConnectOne Bancorp by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider's stock valued at $4,136,000 after purchasing an additional 5,186 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of ConnectOne Bancorp by 7.2% in the 2nd quarter. Renaissance Technologies LLC now owns 209,487 shares of the financial services provider's stock worth $3,957,000 after purchasing an additional 14,124 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in ConnectOne Bancorp by 23.4% during the 2nd quarter. AQR Capital Management LLC now owns 138,583 shares of the financial services provider's stock worth $2,618,000 after buying an additional 26,285 shares during the last quarter. 67.70% of the stock is owned by hedge funds and other institutional investors.

ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock traded down $0.06 during trading on Tuesday, hitting $26.43. 112,817 shares of the company's stock were exchanged, compared to its average volume of 185,217. 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 market capitalization of $1.01 billion, a price-to-earnings ratio of 15.22 and a beta of 1.27. The business has a 50-day simple moving average of $26.23 and a 200-day simple moving average of $23.23.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp's payout ratio is currently 41.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CNOB shares. Keefe, Bruyette & Woods increased their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com raised shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a 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.