Hotchkis & Wiley Capital Management LLC Has $13.28 Million Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Hotchkis & Wiley Capital Management LLC reduced its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 17.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 530,060 shares of the financial services provider's stock after selling 108,730 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 1.38% of ConnectOne Bancorp worth $13,278,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in shares of ConnectOne Bancorp in the third quarter valued at $363,000. Banc Funds Co. LLC grew its position in shares of 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 valued at $12,252,000 after purchasing an additional 5,000 shares during the period. BNP Paribas Financial Markets grew its position in shares of ConnectOne Bancorp by 13.7% in the third quarter. BNP Paribas Financial Markets now owns 55,284 shares of the financial services provider's stock valued at $1,385,000 after purchasing an additional 6,668 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in ConnectOne Bancorp in the third quarter valued at $743,000. Finally, Stieven Capital Advisors L.P. acquired a new position in ConnectOne Bancorp in the third quarter valued at $6,488,000. 67.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Stock Performance

CNOB stock traded up $0.72 on Wednesday, reaching $27.67. The company's stock had a trading volume of 138,007 shares, compared to its average volume of 186,006. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The company has a market capitalization of $1.06 billion, a P/E ratio of 15.90 and a beta of 1.27. The firm has a fifty day moving average of $26.09 and a two-hundred day moving average of $23.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed 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 2.60%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp's dividend payout ratio is presently 41.38%.

ConnectOne Bancorp 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.