Knights of Columbus Asset Advisors LLC Acquires 133,384 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Knights of Columbus Asset Advisors LLC raised its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 118.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 246,232 shares of the financial services provider’s stock after buying an additional 133,384 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in ConnectOne Bancorp were worth $5,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNOB. BNP Paribas Arbitrage SNC boosted its holdings in ConnectOne Bancorp by 5.6% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 13,747 shares of the financial services provider’s stock valued at $317,000 after acquiring an additional 727 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ConnectOne Bancorp by 1.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 67,614 shares of the financial services provider’s stock worth $1,195,000 after acquiring an additional 809 shares during the last quarter. US Bancorp DE raised its stake in shares of ConnectOne Bancorp by 98.6% during the second quarter. US Bancorp DE now owns 1,692 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 840 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of ConnectOne Bancorp by 69.4% during the third quarter. Federated Hermes Inc. now owns 2,114 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 866 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of ConnectOne Bancorp in the first quarter worth about $29,000. 67.70% of the stock is owned by institutional investors.

ConnectOne Bancorp Trading Up 3.0 %

NASDAQ CNOB opened at $18.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $714.47 million, a PE ratio of 9.00 and a beta of 1.25. The stock’s 50 day moving average is $19.34 and its 200 day moving average is $20.00. ConnectOne Bancorp, Inc. has a twelve month low of $13.11 and a twelve month high of $24.44.

ConnectOne Bancorp (NASDAQ:CNOB) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. ConnectOne Bancorp had a net margin of 17.26% and a return on equity of 8.14%. The company had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $65.50 million. Research analysts forecast that ConnectOne Bancorp, Inc. will post 1.76 earnings per share for the current fiscal year.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Wednesday, February 14th. ConnectOne Bancorp’s dividend payout ratio (DPR) is presently 32.85%.

Wall Street Analysts Forecast Growth

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