Wedge Capital Management L L P NC Increases Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wedge Capital Management L L P NC raised its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOBGet Rating) by 4.6% during the second quarter, HoldingsChannel reports. The firm owned 128,251 shares of the financial services provider’s stock after purchasing an additional 5,681 shares during the period. Wedge Capital Management L L P NC’s holdings in ConnectOne Bancorp were worth $3,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in ConnectOne Bancorp by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,367,016 shares of the financial services provider’s stock valued at $75,768,000 after purchasing an additional 30,583 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of ConnectOne Bancorp by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 1,851,430 shares of the financial services provider’s stock worth $59,265,000 after acquiring an additional 20,474 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of ConnectOne Bancorp by 1.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,556,517 shares of the financial services provider’s stock worth $50,913,000 after acquiring an additional 17,021 shares during the period. American Century Companies Inc. raised its holdings in shares of ConnectOne Bancorp by 1,019.8% during the 1st quarter. American Century Companies Inc. now owns 1,184,114 shares of the financial services provider’s stock worth $37,903,000 after acquiring an additional 1,078,375 shares during the period. Finally, State Street Corp raised its holdings in shares of ConnectOne Bancorp by 9.6% during the 1st quarter. State Street Corp now owns 1,067,558 shares of the financial services provider’s stock worth $34,173,000 after acquiring an additional 93,377 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Raymond James reduced their price target on ConnectOne Bancorp from $33.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, July 7th. Stephens lifted their price target on ConnectOne Bancorp from $31.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, August 2nd.

ConnectOne Bancorp Stock Down 0.7 %

Shares of CNOB opened at $25.30 on Wednesday. The firm has a market cap of $992.85 million, a P/E ratio of 8.11 and a beta of 1.24. ConnectOne Bancorp, Inc. has a 12-month low of $23.18 and a 12-month high of $37.00. The company’s 50-day moving average price is $25.87 and its 200 day moving average price is $27.62. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.15.

ConnectOne Bancorp (NASDAQ:CNOBGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $78.95 million for the quarter, compared to analyst estimates of $75.80 million. ConnectOne Bancorp had a net margin of 38.52% and a return on equity of 12.69%. During the same period in the previous year, the firm earned $0.81 EPS. On average, sell-side analysts forecast that ConnectOne Bancorp, Inc. will post 3.11 earnings per share for the current year.

ConnectOne Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were issued a $0.155 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.62 annualized dividend and a yield of 2.45%. ConnectOne Bancorp’s dividend payout ratio (DPR) is currently 19.87%.

ConnectOne Bancorp Profile

(Get Rating)

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 Northern New Jersey and New York Metropolitan area, and South Florida market. The company offers personal and business checking, retirement, money market, and time and savings accounts.

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Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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