Vanguard Group Inc. Buys 19,348 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Vanguard Group Inc. boosted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,166,557 shares of the financial services provider's stock after buying an additional 19,348 shares during the period. Vanguard Group Inc. owned approximately 5.65% of ConnectOne Bancorp worth $49,636,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS bought a new position in shares of ConnectOne Bancorp during the fourth quarter worth about $149,000. Quantbot Technologies LP acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at approximately $205,000. Serenus Wealth Advisors LLC bought a new stake in shares of ConnectOne Bancorp in the fourth quarter worth $209,000. Wilmington Savings Fund Society FSB acquired a new position in ConnectOne Bancorp during the third quarter worth $305,000. Finally, SG Americas Securities LLC grew 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 valued at $343,000 after purchasing an additional 5,158 shares in the last quarter. Institutional investors and hedge funds own 67.70% of the company's stock.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB traded up $0.14 on Thursday, hitting $21.54. 29,299 shares of the stock were exchanged, compared to its average volume of 194,272. The business's fifty day moving average is $24.00 and its 200 day moving average is $24.74. ConnectOne Bancorp, Inc. has a 52 week low of $17.07 and a 52 week high of $29.31. The company has a market capitalization of $828.61 million, a PE ratio of 12.18 and a beta of 1.09. 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 (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 EPS for the quarter, topping 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%. Research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Tuesday, February 18th. ConnectOne Bancorp's dividend payout ratio is currently 40.68%.

Wall Street Analysts Forecast Growth

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

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.