Victory Capital Management Inc. Sells 6,780 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Victory Capital Management Inc. trimmed its position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 12.1% during the third quarter, HoldingsChannel.com reports. The fund owned 49,220 shares of the financial services provider’s stock after selling 6,780 shares during the quarter. Victory Capital Management Inc.’s holdings in ConnectOne Bancorp were worth $1,233,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Copeland Capital Management LLC acquired a new position in ConnectOne Bancorp during the 3rd quarter worth approximately $53,000. Bryn Mawr Capital Management LLC acquired a new stake in ConnectOne Bancorp in the second quarter valued at $171,000. Evergreen Capital Management LLC bought a new position in shares of ConnectOne Bancorp during the second quarter worth about $196,000. Palouse Capital Management Inc. raised its holdings in ConnectOne Bancorp by 25.1% during the 3rd quarter. Palouse Capital Management Inc. now owns 8,022 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 1,607 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in ConnectOne Bancorp during the third quarter worth $246,000. Institutional investors and hedge funds own 67.70% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, November 18th.

ConnectOne Bancorp Stock Down 2.9 %

Shares of NASDAQ CNOB opened at $27.84 on Wednesday. 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 firm has a market cap of $1.07 billion, a PE ratio of 16.47 and a beta of 1.25. The company’s fifty day simple moving average is $25.76 and its 200 day simple moving average is $22.75. ConnectOne Bancorp, Inc. has a 12-month low of $17.07 and a 12-month high of $29.31.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. ConnectOne Bancorp’s dividend payout ratio is presently 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.