State of New Jersey Common Pension Fund D Lowers Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

State of New Jersey Common Pension Fund D reduced its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 21.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,534 shares of the financial services provider's stock after selling 21,380 shares during the period. State of New Jersey Common Pension Fund D owned 0.21% of ConnectOne Bancorp worth $1,992,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. B. Riley Wealth Advisors Inc. raised its position in shares of ConnectOne Bancorp by 196.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider's stock worth $1,086,000 after purchasing an additional 40,334 shares during the last quarter. Vanguard Group Inc. raised its position in shares of ConnectOne Bancorp by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider's stock worth $41,802,000 after purchasing an additional 53,563 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of ConnectOne Bancorp during the 2nd quarter worth approximately $1,648,000. Cornercap Investment Counsel Inc. raised its position in shares of ConnectOne Bancorp by 111.1% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider's stock worth $1,047,000 after purchasing an additional 29,161 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of ConnectOne Bancorp by 19.8% during the 1st quarter. BNP Paribas Financial Markets now owns 48,504 shares of the financial services provider's stock worth $946,000 after purchasing an additional 8,026 shares during the last quarter. 67.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNOB shares. StockNews.com upgraded ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Piper Sandler lifted their target price on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $26.00 target price (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th.

ConnectOne Bancorp Stock Down 1.1 %

Shares of NASDAQ CNOB opened at $27.09 on Friday. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.02. The firm has a fifty day moving average of $25.40 and a 200-day moving average of $22.39. The stock has a market capitalization of $1.04 billion, a PE ratio of 15.57 and a beta of 1.25. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.66%. ConnectOne Bancorp's dividend payout ratio is presently 41.38%.

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.