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

Proficio Capital Partners LLC acquired a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,358 shares of the financial services provider's stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNOB. Serenus Wealth Advisors LLC bought a new stake in ConnectOne Bancorp in the 4th quarter worth approximately $209,000. Zacks Investment Management bought a new stake in shares of ConnectOne Bancorp in the third quarter worth $232,000. Wilmington Savings Fund Society FSB purchased a new stake in ConnectOne Bancorp during the third quarter valued at $305,000. Centiva Capital LP bought a new position in ConnectOne Bancorp in the third quarter valued at about $363,000. Finally, SG Americas Securities LLC boosted its position in ConnectOne Bancorp by 52.5% in the fourth 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 last quarter. Institutional investors own 67.70% of the company's stock.

Analyst Upgrades and Downgrades

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

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ConnectOne Bancorp Stock Performance

Shares of ConnectOne Bancorp stock traded down $0.31 on Friday, hitting $24.20. 268,611 shares of the company's stock were exchanged, compared to its average volume of 189,987. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31. The company has a 50-day simple moving average of $24.74 and a 200-day simple moving average of $25.02. 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 capitalization of $928.65 million, a PE ratio of 13.67 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last announced its earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. As a group, equities analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid 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 2.98%. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 40.68%.

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.