ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 48.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,327 shares of the financial services provider's stock after selling 27,079 shares during the quarter. Cornercap Investment Counsel Inc. owned approximately 0.07% of ConnectOne Bancorp worth $710,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its holdings in ConnectOne Bancorp by 6.7% in the 2nd quarter. Hsbc Holdings PLC now owns 17,938 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 1,131 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ConnectOne Bancorp by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider's stock valued at $719,000 after acquiring an additional 1,535 shares during the last quarter. Principal Financial Group Inc. raised its position in ConnectOne Bancorp by 8.2% during the 2nd quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider's stock worth $399,000 after purchasing an additional 1,606 shares during the last quarter. Palouse Capital Management Inc. boosted its stake in shares of ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. grew its stake in ConnectOne Bancorp by 2.1% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 87,812 shares of the financial services provider's stock worth $2,200,000 after purchasing an additional 1,800 shares during the period. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Stock Performance

CNOB traded down $0.31 during midday trading on Friday, hitting $27.09. 183,703 shares of the company traded hands, compared to its average volume of 187,670. 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, Inc. has a 52 week low of $17.07 and a 52 week high of $29.02. The firm has a market capitalization of $1.04 billion, a PE ratio of 15.57 and a beta of 1.25. The company's 50-day moving average is $25.40 and its 200 day moving average is $22.39.

ConnectOne Bancorp Announces Dividend

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

Analysts Set New Price Targets

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

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.