ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. increased its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 52.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 242,920 shares of the financial services provider's stock after purchasing an additional 83,950 shares during the quarter. Franklin Resources Inc. owned approximately 0.63% of ConnectOne Bancorp worth $6,262,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of ConnectOne Bancorp by 0.8% during the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider's stock worth $21,359,000 after purchasing an additional 6,880 shares in the last quarter. American Century Companies Inc. raised 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 buying an additional 85,437 shares during the last quarter. Wellington Management Group LLP acquired a new stake in ConnectOne Bancorp in the third quarter worth about $14,127,000. Banc Funds Co. LLC boosted its holdings in ConnectOne Bancorp by 1.0% in the third quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider's stock worth $12,252,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new stake in shares of ConnectOne Bancorp during the third quarter worth about $6,488,000. Institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB traded down $0.21 during trading hours on Monday, reaching $23.04. The stock had a trading volume of 147,487 shares, compared to its average volume of 188,893. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. The stock has a fifty day moving average of $26.25 and a 200 day moving average of $23.67. 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 cap of $884.04 million, a P/E ratio of 13.24 and a beta of 1.27.

ConnectOne Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is currently 41.38%.

Analyst Ratings Changes

A number of research firms recently commented on CNOB. Keefe, Bruyette & Woods lifted their target price on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, November 18th.

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.