Fmr LLC Reduces Stock Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

FMR LLC lowered its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 11.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,052,056 shares of the financial services provider's stock after selling 394,085 shares during the quarter. FMR LLC owned approximately 7.95% of ConnectOne Bancorp worth $76,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Copeland Capital Management LLC acquired a new stake in shares of ConnectOne Bancorp in the 3rd quarter valued at about $53,000. Bryn Mawr Capital Management LLC purchased a new position in shares of ConnectOne Bancorp during the second quarter worth approximately $171,000. Evergreen Capital Management LLC acquired a new position in shares of ConnectOne Bancorp in the 2nd quarter valued at $196,000. Palouse Capital Management Inc. raised its position in 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, SG Americas Securities LLC purchased a new stake in ConnectOne Bancorp in the 3rd quarter valued at $246,000. Hedge funds and other institutional investors own 67.70% of the company's stock.

Analyst Upgrades and Downgrades

CNOB has been the topic of a number of recent research reports. StockNews.com upgraded shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, November 18th. Keefe, Bruyette & Woods boosted their price target on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a "market perform" rating in a research report on Wednesday.

ConnectOne Bancorp Stock Performance

ConnectOne Bancorp stock traded down $0.09 during trading hours on Friday, reaching $27.06. 125,143 shares of the stock were exchanged, compared to its average volume of 185,641. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. The stock has a market cap of $1.04 billion, a P/E ratio of 15.60 and a beta of 1.27. 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 firm's 50 day moving average is $26.15 and its 200 day moving average is $23.11.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.66%. ConnectOne Bancorp's payout ratio is currently 41.38%.

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.