JPMorgan Chase & Co. Reduces Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

JPMorgan Chase & Co. lessened its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 12.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 898,122 shares of the financial services provider's stock after selling 131,643 shares during the period. JPMorgan Chase & Co. owned 2.34% of ConnectOne Bancorp worth $22,498,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of ConnectOne Bancorp by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider's stock worth $21,359,000 after buying an additional 6,880 shares in the last quarter. American Century Companies Inc. raised its position 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 worth $11,969,000 after acquiring an additional 85,437 shares in the last quarter. Wellington Management Group LLP acquired a new stake in ConnectOne Bancorp in the third quarter valued at $14,127,000. Banc Funds Co. LLC boosted its position in shares of ConnectOne Bancorp by 1.0% during the 3rd quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider's stock worth $12,252,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Stieven Capital Advisors L.P. acquired a new position in shares of ConnectOne Bancorp during the 3rd quarter worth $6,488,000. Hedge funds and other institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Stock Up 0.4 %

Shares of NASDAQ CNOB traded up $0.10 on Thursday, hitting $22.49. The company had a trading volume of 169,875 shares, compared to its average volume of 211,775. 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 12-month low of $17.07 and a 12-month high of $29.31. The firm has a market capitalization of $862.94 million, a P/E ratio of 12.93 and a beta of 1.30. The business has a 50 day moving average of $25.63 and a two-hundred day moving average of $24.06.

ConnectOne Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.20%. The ex-dividend date was Friday, November 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is 41.38%.

Analyst Ratings Changes

CNOB has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on 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 ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, November 18th.

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.