Olympiad Research LP Makes New $277,000 Investment in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Olympiad Research LP bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,047 shares of the financial services provider’s stock, valued at approximately $277,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. increased its stake in ConnectOne Bancorp by 196.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock worth $1,086,000 after acquiring an additional 40,334 shares during the last quarter. Vanguard Group Inc. increased its stake in ConnectOne Bancorp by 2.6% during the first quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after acquiring an additional 53,563 shares during the last quarter. Thrivent Financial for Lutherans acquired a new stake in ConnectOne Bancorp during the second quarter worth $1,648,000. Cornercap Investment Counsel Inc. grew its stake in shares of ConnectOne Bancorp by 111.1% in the second quarter. Cornercap Investment Counsel Inc. now owns 55,406 shares of the financial services provider’s stock valued at $1,047,000 after buying an additional 29,161 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of ConnectOne Bancorp by 19.8% in the first quarter. BNP Paribas Financial Markets now owns 48,504 shares of the financial services provider’s stock valued at $946,000 after buying an additional 8,026 shares in the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNOB. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $26.00 price objective (up from $22.00) on shares of ConnectOne Bancorp in a research note on Friday, July 26th. StockNews.com raised ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler lifted their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

ConnectOne Bancorp Trading Down 5.9 %

NASDAQ:CNOB opened at $26.91 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of 15.47 and a beta of 1.25. The stock has a fifty day moving average price of $25.04 and a 200 day moving average price of $21.99. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 41.38%.

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.