ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 420,166 shares of the financial services provider's stock after selling 143,771 shares during the quarter. Wellington Management Group LLP owned approximately 1.10% of ConnectOne Bancorp worth $9,626,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNOB. KLP Kapitalforvaltning AS acquired a new stake in ConnectOne Bancorp in the 4th quarter valued at $149,000. Quantbot Technologies LP acquired a new stake in shares of ConnectOne Bancorp in the fourth quarter valued at about $205,000. Serenus Wealth Advisors LLC purchased a new stake in shares of ConnectOne Bancorp during the fourth quarter worth about $209,000. Zacks Investment Management acquired a new position in shares of ConnectOne Bancorp during the 3rd quarter worth about $232,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in ConnectOne Bancorp in the 3rd quarter valued at about $305,000. 67.70% of the stock is owned by institutional investors and hedge funds.

ConnectOne Bancorp Price Performance

Shares of ConnectOne Bancorp stock traded up $0.55 during trading hours on Tuesday, reaching $21.78. 19,666 shares of the company's stock were exchanged, compared to its average volume of 194,108. The business has a fifty day moving average of $24.21 and a two-hundred day moving average of $24.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $835.79 million, a P/E ratio of 12.27 and a beta of 1.09. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31.

ConnectOne Bancorp (NASDAQ:CNOB - Get Free Report) last issued its earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share 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%. As a group, research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.31%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp's payout ratio is currently 40.68%.

Analyst Upgrades and Downgrades

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

ConnectOne Bancorp Company 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.