ConnectOne Bancorp, Inc. (NASDAQ:CNOB) Shares Sold by State Street Corp

State Street Corp lessened its position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 996,638 shares of the financial services provider’s stock after selling 36,203 shares during the quarter. State Street Corp’s holdings in ConnectOne Bancorp were worth $24,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CNOB. American Century Companies Inc. raised its position in ConnectOne Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after acquiring an additional 85,437 shares during the last quarter. Banc Funds Co. LLC raised its position in shares of ConnectOne Bancorp by 1.0% during the 3rd quarter. Banc Funds Co. LLC now owns 489,086 shares of the financial services provider’s stock worth $12,252,000 after purchasing an additional 5,000 shares during the last quarter. Stieven Capital Advisors L.P. purchased a new stake in ConnectOne Bancorp in the 3rd quarter valued at approximately $6,488,000. Bank of New York Mellon Corp grew its holdings in ConnectOne Bancorp by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after buying an additional 5,186 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in ConnectOne Bancorp by 7.2% during the second quarter. Renaissance Technologies LLC now owns 209,487 shares of the financial services provider’s stock worth $3,957,000 after buying an additional 14,124 shares in the last quarter. 67.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on ConnectOne Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th.

ConnectOne Bancorp Price Performance

CNOB stock opened at $23.25 on Monday. The stock has a market capitalization of $892.10 million, a price-to-earnings ratio of 13.36 and a beta of 1.27. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.07. ConnectOne Bancorp, Inc. has a 52-week low of $17.07 and a 52-week high of $29.31. The stock’s fifty day simple moving average is $26.31 and its 200-day simple moving average is $23.64.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend was Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio (DPR) is 41.38%.

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.