SG Americas Securities LLC Grows Position in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

SG Americas Securities LLC grew its stake in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 52.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,992 shares of the financial services provider’s stock after buying an additional 5,158 shares during the quarter. SG Americas Securities LLC’s holdings in ConnectOne Bancorp were worth $343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNOB. Copeland Capital Management LLC bought a new position in shares of ConnectOne Bancorp during the 3rd quarter valued at approximately $53,000. Palouse Capital Management Inc. boosted its position in shares of ConnectOne Bancorp by 25.1% in the third 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 period. Zacks Investment Management purchased a new stake in shares of ConnectOne Bancorp in the third quarter worth $232,000. Olympiad Research LP bought a new stake in shares of ConnectOne Bancorp during the 3rd quarter valued at $277,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of ConnectOne Bancorp during the 3rd quarter valued at $305,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Trading Up 4.2 %

ConnectOne Bancorp stock opened at $26.27 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average price is $24.33 and its 200-day moving average price is $24.63. ConnectOne Bancorp, Inc. has a 1 year low of $17.07 and a 1 year high of $29.31. The stock has a market cap of $1.01 billion, a P/E ratio of 14.84 and a beta of 1.30.

ConnectOne Bancorp (NASDAQ:CNOB) last announced its quarterly earnings results on Thursday, January 30th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. ConnectOne Bancorp had a net margin of 13.80% and a return on equity of 6.77%. On average, equities analysts predict that ConnectOne Bancorp, Inc. will post 2.19 earnings per share for the current fiscal year.

ConnectOne Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.74%. ConnectOne Bancorp’s dividend payout ratio is currently 40.68%.

Analyst Upgrades and Downgrades

CNOB has been the subject of a number of analyst reports. StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, November 18th. Keefe, Bruyette & Woods increased their target price on ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th.

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.