Salzhauer Michael Boosts Stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Salzhauer Michael increased its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 15.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 76,496 shares of the financial services provider’s stock after acquiring an additional 10,236 shares during the period. ConnectOne Bancorp comprises approximately 0.6% of Salzhauer Michael’s portfolio, making the stock its 23rd largest position. Salzhauer Michael owned about 0.20% of ConnectOne Bancorp worth $1,753,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Stieven Capital Advisors L.P. boosted its holdings in shares of ConnectOne Bancorp by 96.2% in the 4th quarter. Stieven Capital Advisors L.P. now owns 508,265 shares of the financial services provider’s stock worth $11,644,000 after purchasing an additional 249,265 shares in the last quarter. Franklin Resources Inc. lifted its position in ConnectOne Bancorp by 52.8% in the 3rd quarter. Franklin Resources Inc. now owns 242,920 shares of the financial services provider’s stock worth $6,262,000 after buying an additional 83,950 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in ConnectOne Bancorp by 32.3% in the fourth quarter. Bank of New York Mellon Corp now owns 250,818 shares of the financial services provider’s stock worth $5,746,000 after buying an additional 61,165 shares in the last quarter. Fourthstone LLC bought a new position in ConnectOne Bancorp during the fourth quarter valued at approximately $1,322,000. Finally, Raymond James Financial Inc. purchased a new position in shares of ConnectOne Bancorp during the fourth quarter worth approximately $1,303,000. Institutional investors own 67.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised shares of ConnectOne Bancorp from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $31.00 to $32.00 in a research note on Wednesday, March 26th.

ConnectOne Bancorp Stock Down 0.7 %

CNOB opened at $21.40 on Thursday. The company has a market cap of $823.26 million, a P/E ratio of 12.09 and a beta of 1.09. ConnectOne Bancorp, Inc. has a 12 month low of $17.07 and a 12 month high of $29.31. The business’s 50-day moving average price is $24.00 and its 200-day moving average price is $24.74. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings data on Thursday, January 30th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. ConnectOne Bancorp had a return on equity of 6.77% and a net margin of 13.80%. On average, equities analysts expect that ConnectOne Bancorp, Inc. will post 2.23 EPS for the current year.

ConnectOne Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.72 annualized dividend and a yield of 3.36%. ConnectOne Bancorp’s payout ratio is currently 40.68%.

About ConnectOne Bancorp

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.