563,937 Shares in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Purchased by Wellington Management Group LLP

Wellington Management Group LLP purchased a new stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 563,937 shares of the financial services provider's stock, valued at approximately $14,127,000. Wellington Management Group LLP owned about 1.47% of ConnectOne Bancorp at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNOB. Copeland Capital Management LLC purchased a new stake in shares of ConnectOne Bancorp during the 3rd quarter worth approximately $53,000. Bryn Mawr Capital Management LLC bought a new stake in ConnectOne Bancorp in the second quarter worth $171,000. Evergreen Capital Management LLC purchased a new stake in ConnectOne Bancorp during the second quarter valued at $196,000. Palouse Capital Management Inc. lifted its position in ConnectOne Bancorp by 25.1% during the third quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 1,607 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of ConnectOne Bancorp in the 3rd quarter worth $246,000. Hedge funds and other institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Trading Down 0.6 %

CNOB stock traded down $0.16 during mid-day trading on Friday, reaching $25.96. 187,690 shares of the stock traded hands, compared to its average volume of 185,634. The business has a 50-day moving average price of $26.37 and a two-hundred day moving average price of $23.42. 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 $996.09 million, a PE ratio of 14.92 and a beta of 1.27. ConnectOne Bancorp, Inc. has a one year low of $17.07 and a one year high of $29.31.

ConnectOne Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp's dividend payout ratio (DPR) is presently 41.38%.

Analyst Ratings Changes

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

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.