Wells Fargo & Company MN Has $3.62 Million Stock Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wells Fargo & Company MN raised its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB - Free Report) by 31.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 158,132 shares of the financial services provider's stock after acquiring an additional 37,868 shares during the period. Wells Fargo & Company MN owned approximately 0.41% of ConnectOne Bancorp worth $3,623,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in ConnectOne Bancorp by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,166,557 shares of the financial services provider's stock valued at $49,636,000 after purchasing an additional 19,348 shares in the last quarter. Geode Capital Management LLC increased its position in shares of ConnectOne Bancorp by 0.8% during the third quarter. Geode Capital Management LLC now owns 852,507 shares of the financial services provider's stock worth $21,359,000 after acquiring an additional 6,880 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ConnectOne Bancorp by 6.9% in the 4th quarter. American Century Companies Inc. now owns 771,714 shares of the financial services provider's stock worth $17,680,000 after acquiring an additional 49,943 shares during the last quarter. Stieven Capital Advisors L.P. lifted its position in ConnectOne Bancorp by 96.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider's stock valued at $11,644,000 after acquiring an additional 249,265 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in ConnectOne Bancorp by 32.3% during the 4th quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider's stock valued at $5,746,000 after purchasing an additional 61,165 shares during the last quarter. Institutional investors own 67.70% of the company's stock.

ConnectOne Bancorp Stock Performance

NASDAQ CNOB opened at $22.07 on Wednesday. The company has a fifty day moving average price of $23.56 and a 200-day moving average price of $24.66. The firm has a market cap of $849.03 million, a price-to-earnings ratio of 12.47 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, 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 quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. As a group, equities research analysts predict that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Tuesday, February 18th. ConnectOne Bancorp's payout ratio is 40.68%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised ConnectOne Bancorp from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $31.00 to $32.00 in a research note 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.

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