ClariVest Asset Management LLC lowered its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,900 shares of the financial services provider’s stock after selling 1,500 shares during the period. ClariVest Asset Management LLC owned about 0.06% of ConnectOne Bancorp worth $351,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Rothschild & Co. Asset Management US Inc. increased its position in ConnectOne Bancorp by 18.6% in the 3rd quarter. Rothschild & Co. Asset Management US Inc. now owns 632,598 shares of the financial services provider’s stock valued at $8,901,000 after acquiring an additional 99,207 shares during the period. National Asset Management Inc. acquired a new position in ConnectOne Bancorp in the 3rd quarter valued at about $466,000. Sei Investments Co. increased its position in ConnectOne Bancorp by 10.4% in the 3rd quarter. Sei Investments Co. now owns 126,154 shares of the financial services provider’s stock valued at $1,775,000 after acquiring an additional 11,892 shares during the period. Aperio Group LLC increased its position in ConnectOne Bancorp by 12.4% in the 3rd quarter. Aperio Group LLC now owns 16,349 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 1,810 shares during the period. Finally, California Public Employees Retirement System increased its position in ConnectOne Bancorp by 3.1% in the 3rd quarter. California Public Employees Retirement System now owns 86,490 shares of the financial services provider’s stock valued at $1,217,000 after acquiring an additional 2,600 shares during the period. Institutional investors and hedge funds own 54.65% of the company’s stock.
Several brokerages recently issued reports on CNOB. Keefe, Bruyette & Woods boosted their price target on ConnectOne Bancorp from $18.50 to $19.50 and gave the company an “outperform” rating in a research report on Friday, July 31st. Zacks Investment Research upgraded ConnectOne Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, November 3rd. ValuEngine upgraded ConnectOne Bancorp from a “strong sell” rating to a “sell” rating in a research report on Monday, November 2nd. Finally, BidaskClub upgraded ConnectOne Bancorp from a “hold” rating to a “buy” rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. ConnectOne Bancorp has an average rating of “Buy” and a consensus price target of $22.00.
ConnectOne Bancorp (NASDAQ:CNOB) last released its earnings results on Thursday, October 29th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. ConnectOne Bancorp had a return on equity of 9.63% and a net margin of 21.17%. Equities analysts forecast that ConnectOne Bancorp, Inc. will post 1.96 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, November 13th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 16.00%.
ConnectOne Bancorp Company Profile
ConnectOne Bancorp, Inc operates as the bank holding company for ConnectOne Bank, a state chartered bank that provides various commercial banking products and services. The company offers a range of deposit products, including personal and business checking accounts, retirement accounts, money market accounts, and time and savings accounts.
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