Thrivent Financial for Lutherans Has $1.67 Million Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Thrivent Financial for Lutherans cut its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB – Get Rating) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 69,066 shares of the financial services provider’s stock after selling 4,334 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ConnectOne Bancorp were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank grew its holdings in ConnectOne Bancorp by 1.1% in the 4th quarter. Swiss National Bank now owns 85,200 shares of the financial services provider’s stock valued at $2,063,000 after buying an additional 900 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in ConnectOne Bancorp by 52.0% in the 4th quarter. Russell Investments Group Ltd. now owns 23,388 shares of the financial services provider’s stock valued at $566,000 after buying an additional 8,000 shares during the last quarter. Salzhauer Michael grew its holdings in ConnectOne Bancorp by 12.7% in the 4th quarter. Salzhauer Michael now owns 47,793 shares of the financial services provider’s stock valued at $1,157,000 after buying an additional 5,372 shares during the last quarter. Tilson Financial Group Inc. acquired a new stake in ConnectOne Bancorp in the 4th quarter worth $647,000. Finally, Emerald Mutual Fund Advisers Trust grew its position in ConnectOne Bancorp by 134.5% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 58,024 shares of the financial services provider’s stock worth $1,405,000 after purchasing an additional 33,284 shares during the last quarter. 67.46% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Stock Performance

ConnectOne Bancorp stock opened at $13.93 on Friday. 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 stock has a 50-day simple moving average of $16.35 and a 200 day simple moving average of $21.69. ConnectOne Bancorp, Inc. has a 12-month low of $13.11 and a 12-month high of $28.68. The stock has a market capitalization of $545.78 million, a price-to-earnings ratio of 4.87 and a beta of 1.11.

ConnectOne Bancorp (NASDAQ:CNOB – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.13). The firm had revenue of $69.88 million for the quarter, compared to the consensus estimate of $79.90 million. ConnectOne Bancorp had a return on equity of 11.26% and a net margin of 28.02%. On average, research analysts anticipate that ConnectOne Bancorp, Inc. will post 2.36 earnings per share for the current fiscal year.

ConnectOne Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Monday, May 15th will be issued a dividend of $0.17 per share. This is a boost from ConnectOne Bancorp’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 4.88%. The ex-dividend date is Friday, May 12th. ConnectOne Bancorp’s payout ratio is currently 23.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNOB. Stephens decreased their price objective on ConnectOne Bancorp from $31.00 to $28.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Keefe, Bruyette & Woods decreased their price objective on ConnectOne Bancorp from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, April 6th. StockNews.com initiated coverage on ConnectOne Bancorp in a report on Thursday. They set a “hold” rating on the stock. Piper Sandler lowered their target price on shares of ConnectOne Bancorp from $21.00 to $19.00 in a research note on Friday, April 28th. Finally, TheStreet cut shares of ConnectOne Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, May 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ConnectOne Bancorp has a consensus rating of “Moderate Buy” and an average target price of $25.25.

Insider Buying and Selling at ConnectOne Bancorp

In other ConnectOne Bancorp news, Director Michael W. Kempner sold 41,000 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $24.01, for a total transaction of $984,410.00. Following the completion of the sale, the director now owns 319,585 shares in the company, valued at approximately $7,673,235.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Stephen T. Boswell purchased 10,000 shares of the stock in a transaction dated Friday, March 10th. The stock was bought at an average cost of $20.95 per share, with a total value of $209,500.00. Following the purchase, the director now directly owns 254,084 shares in the company, valued at approximately $5,323,059.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael W. Kempner sold 41,000 shares of the company’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $24.01, for a total value of $984,410.00. Following the completion of the sale, the director now directly owns 319,585 shares of the company’s stock, valued at $7,673,235.85. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 10,531 shares of company stock worth $217,963. Insiders own 6.18% of the company’s stock.

ConnectOne Bancorp Profile

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ConnectOne Bancorp, Inc is a holding company, which engages in the provision of modern financial services. The firm offers commercial, commercial real estate, commercial construction, residential real estate, and consumer loans. The company was founded on November 12, 1982 and is headquartered in Englewood Cliffs, NJ.