56,862 Shares in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,862 shares of the financial services provider's stock, valued at approximately $1,303,000. Raymond James Financial Inc. owned approximately 0.15% of ConnectOne Bancorp at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Serenus Wealth Advisors LLC bought a new position in ConnectOne Bancorp in the fourth quarter worth approximately $209,000. Zacks Investment Management bought a new position in shares of ConnectOne Bancorp in the 3rd quarter worth $232,000. Wilmington Savings Fund Society FSB acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $305,000. SG Americas Securities LLC grew its position 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 valued at $343,000 after purchasing an additional 5,158 shares during the period. Finally, Centiva Capital LP bought a new stake in ConnectOne Bancorp during the 3rd quarter valued at $363,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded shares of ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $31.00 to $32.00 in a report on Wednesday, March 26th.

ConnectOne Bancorp Stock Up 0.9 %

Shares of NASDAQ:CNOB traded up $0.19 during mid-day trading on Monday, hitting $21.80. 363,836 shares of the company traded hands, compared to its average volume of 193,038. The stock has a 50-day moving average price of $24.71 and a two-hundred day moving average price of $24.94. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31. The stock has a market cap of $836.55 million, a P/E ratio of 12.32 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last posted its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts forecast that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current year.

ConnectOne Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.72 annualized dividend and a dividend yield of 3.30%. ConnectOne Bancorp's dividend payout ratio is currently 40.68%.

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.