Intech Investment Management LLC Takes Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Intech Investment Management LLC bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,049 shares of the financial services provider's stock, valued at approximately $414,000.

A number of other large investors have also recently bought and sold shares of the company. Serenus Wealth Advisors LLC acquired a new stake in ConnectOne Bancorp during the fourth quarter valued at $209,000. Zacks Investment Management purchased a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth about $232,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at about $305,000. Centiva Capital LP purchased a new position in shares of ConnectOne Bancorp in the 3rd quarter valued at about $363,000. Finally, SG Americas Securities LLC raised its holdings in ConnectOne Bancorp by 52.5% in the 4th quarter. SG Americas Securities LLC now owns 14,992 shares of the financial services provider's stock worth $343,000 after purchasing an additional 5,158 shares during the period. Hedge funds and other institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Price Performance

CNOB traded down $0.31 during midday trading on Friday, hitting $24.20. 268,611 shares of the company traded hands, compared to its average volume of 189,987. The business has a 50 day simple moving average of $24.74 and a two-hundred day simple moving average of $25.02. 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 $928.65 million, a price-to-earnings ratio of 13.67 and a beta of 1.30. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

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ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio is presently 40.68%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $31.00 to $32.00 in a report on Wednesday.

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.