State Street Corp Sells 36,203 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

State Street Corp lessened its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 996,638 shares of the financial services provider's stock after selling 36,203 shares during the period. State Street Corp owned about 2.60% of ConnectOne Bancorp worth $24,966,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Copeland Capital Management LLC purchased a new stake in shares of ConnectOne Bancorp during the third quarter valued at $53,000. Palouse Capital Management Inc. raised its holdings in ConnectOne Bancorp by 25.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider's stock worth $201,000 after buying an additional 1,607 shares during the period. Bryn Mawr Capital Management LLC purchased a new stake in ConnectOne Bancorp during the second quarter valued at about $171,000. SG Americas Securities LLC acquired a new position in shares of ConnectOne Bancorp in the third quarter worth about $246,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of ConnectOne Bancorp in the second quarter worth approximately $196,000. 67.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Stock Down 0.9 %

CNOB stock traded down $0.21 during mid-day trading on Monday, hitting $23.04. The stock had a trading volume of 147,487 shares, compared to its average volume of 188,893. ConnectOne Bancorp, Inc. has a 1-year low of $17.07 and a 1-year high of $29.31. The company has a fifty day moving average of $26.25 and a 200 day moving average of $23.67. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $884.04 million, a price-to-earnings ratio of 13.24 and a beta of 1.27.

ConnectOne Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 41.38%.

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.