Citigroup Inc. Has $235,000 Stock Holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Citigroup Inc. lessened its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 64.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,179 shares of the financial services provider’s stock after selling 23,493 shares during the quarter. Citigroup Inc.’s holdings in ConnectOne Bancorp were worth $235,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE raised its position in ConnectOne Bancorp by 98.6% in the 2nd quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock valued at $28,000 after buying an additional 840 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in ConnectOne Bancorp in the 1st quarter valued at approximately $29,000. Group One Trading L.P. acquired a new stake in ConnectOne Bancorp in the 1st quarter valued at approximately $32,000. Osaic Holdings Inc. raised its position in ConnectOne Bancorp by 315.3% in the 2nd quarter. Osaic Holdings Inc. now owns 11,192 shares of the financial services provider’s stock valued at $40,000 after buying an additional 8,497 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in ConnectOne Bancorp by 69.4% in the 3rd quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock valued at $49,000 after buying an additional 866 shares during the last quarter. Institutional investors and hedge funds own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

Shares of NASDAQ CNOB opened at $19.36 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92. ConnectOne Bancorp, Inc. has a 12 month low of $13.11 and a 12 month high of $24.44. The stock has a 50 day moving average of $20.61 and a 200-day moving average of $19.96. The company has a market capitalization of $743.42 million, a P/E ratio of 9.35 and a beta of 1.25.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. ConnectOne Bancorp had a return on equity of 8.14% and a net margin of 17.26%. The company had revenue of $66.03 million during the quarter, compared to the consensus estimate of $65.50 million. As a group, equities research analysts predict that ConnectOne Bancorp, Inc. will post 1.76 EPS for the current year.

ConnectOne Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 15th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.68 annualized dividend and a dividend yield of 3.51%. ConnectOne Bancorp’s dividend payout ratio is currently 32.85%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CNOB shares. Piper Sandler boosted their price target on ConnectOne Bancorp from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods boosted their price target on ConnectOne Bancorp from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Raymond James boosted their price target on ConnectOne Bancorp from $26.00 to $28.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $25.25.

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.