ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Sees Large Drop in Short Interest

ConnectOne Bancorp, Inc. (NASDAQ:CNOB) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 631,000 shares, a drop of 6.1% from the November 15th total of 672,300 shares. Approximately 1.8% of the company’s shares are short sold. Based on an average daily volume of 203,600 shares, the days-to-cover ratio is presently 3.1 days.

ConnectOne Bancorp Trading Down 3.1 %

Shares of NASDAQ:CNOB opened at $25.58 on Wednesday. ConnectOne Bancorp has a 12 month low of $17.07 and a 12 month high of $29.31. 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 company’s fifty day simple moving average is $26.40 and its 200 day simple moving average is $23.48. The firm has a market cap of $981.50 million, a price-to-earnings ratio of 14.70 and a beta of 1.27.

ConnectOne Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.81%. ConnectOne Bancorp’s payout ratio is 41.38%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CNOB shares. StockNews.com raised shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th. Keefe, Bruyette & Woods raised their price objective on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Institutional Investors Weigh In On ConnectOne Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $53,000. Bryn Mawr Capital Management LLC acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $171,000. Evergreen Capital Management LLC acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $196,000. Palouse Capital Management Inc. increased its stake in ConnectOne Bancorp by 25.1% in the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock valued at $201,000 after buying an additional 1,607 shares during the last quarter. Finally, Zacks Investment Management acquired a new stake in ConnectOne Bancorp in the 3rd quarter valued at $232,000. 67.70% of the stock is currently owned by institutional investors and hedge funds.

ConnectOne Bancorp Company 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.