Proficio Capital Partners LLC Invests $375,000 in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Proficio Capital Partners LLC bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,358 shares of the financial services provider's stock, valued at approximately $375,000.

Other large investors have also modified their holdings of the company. Barclays PLC grew its holdings in shares of ConnectOne Bancorp by 52.0% in the 3rd quarter. Barclays PLC now owns 114,708 shares of the financial services provider's stock worth $2,874,000 after acquiring an additional 39,249 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of ConnectOne Bancorp during the 3rd quarter worth $743,000. Stieven Capital Advisors L.P. purchased a new position in shares of ConnectOne Bancorp during the 3rd quarter worth $6,488,000. Salzhauer Michael lifted its stake in shares of ConnectOne Bancorp by 15.4% during the 4th quarter. Salzhauer Michael now owns 76,496 shares of the financial services provider's stock worth $1,753,000 after purchasing an additional 10,236 shares during the period. Finally, Stifel Financial Corp lifted its stake in shares of ConnectOne Bancorp by 4.0% during the 3rd quarter. Stifel Financial Corp now owns 91,650 shares of the financial services provider's stock worth $2,296,000 after purchasing an additional 3,565 shares during the period. 67.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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ConnectOne Bancorp Stock Up 1.8 %

Shares of ConnectOne Bancorp stock traded up $0.42 during trading hours on Friday, hitting $23.33. 140,457 shares of the company's stock traded hands, compared to its average volume of 183,515. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a market cap of $895.27 million, a PE ratio of 13.18 and a beta of 1.30. ConnectOne Bancorp, Inc. has a twelve month low of $17.07 and a twelve month high of $29.31. The stock has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $25.08.

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

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.09%. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 40.68%.

About ConnectOne Bancorp

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.