Stieven Capital Advisors L.P. Makes New Investment in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Stieven Capital Advisors L.P. purchased a new position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 259,000 shares of the financial services provider's stock, valued at approximately $6,488,000. Stieven Capital Advisors L.P. owned 0.68% of ConnectOne Bancorp at the end of the most recent quarter.

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

ConnectOne Bancorp Trading Down 1.1 %

NASDAQ CNOB traded down $0.31 on Friday, hitting $27.09. 183,703 shares of the company were exchanged, compared to its average volume of 242,055. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. ConnectOne Bancorp, Inc. has a twelve month low of $17.07 and a twelve month high of $29.02. The firm has a market capitalization of $1.04 billion, a P/E ratio of 15.57 and a beta of 1.25. The company's 50 day moving average price is $25.40 and its 200-day moving average price is $22.39.

ConnectOne Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp's dividend payout ratio is 41.38%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods restated a "market perform" rating and set a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Piper Sandler lifted their price target on shares of ConnectOne Bancorp from $22.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded ConnectOne Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

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.