IndexIQ Advisors LLC Raises Stake in ConnectOne Bancorp, Inc. (CNOB)

IndexIQ Advisors LLC lifted its stake in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 83.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,742 shares of the financial services provider’s stock after acquiring an additional 16,237 shares during the quarter. IndexIQ Advisors LLC owned approximately 0.11% of ConnectOne Bancorp worth $879,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of ConnectOne Bancorp by 7.5% during the second quarter. Goldman Sachs Group Inc. now owns 1,358,490 shares of the financial services provider’s stock worth $30,634,000 after acquiring an additional 94,746 shares during the period. Dimensional Fund Advisors LP increased its position in shares of ConnectOne Bancorp by 12.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,356,084 shares of the financial services provider’s stock worth $30,580,000 after acquiring an additional 152,549 shares during the period. Vanguard Group Inc. increased its position in shares of ConnectOne Bancorp by 5.6% during the second quarter. Vanguard Group Inc. now owns 1,310,949 shares of the financial services provider’s stock worth $29,561,000 after acquiring an additional 69,802 shares during the period. Banc Funds Co. LLC increased its position in shares of ConnectOne Bancorp by 6.8% during the second quarter. Banc Funds Co. LLC now owns 784,153 shares of the financial services provider’s stock worth $17,683,000 after acquiring an additional 50,000 shares during the period. Finally, State Street Corp boosted its stake in shares of ConnectOne Bancorp by 8.9% during the second quarter. State Street Corp now owns 570,520 shares of the financial services provider’s stock valued at $12,868,000 after purchasing an additional 46,590 shares in the last quarter. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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A number of research firms have recently issued reports on CNOB. Piper Jaffray Companies reiterated a “buy” rating and set a $30.50 price objective on shares of ConnectOne Bancorp in a research note on Wednesday, November 1st. BidaskClub upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating and set a $30.00 price objective on the stock in a research note on Monday, October 30th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $32.00 price objective on shares of ConnectOne Bancorp in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.50.

ConnectOne Bancorp, Inc. (NASDAQ CNOB) opened at $25.75 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.13 and a current ratio of 0.98. ConnectOne Bancorp, Inc. has a one year low of $20.20 and a one year high of $27.40. The stock has a market cap of $824.39, a P/E ratio of 15.61 and a beta of 0.97.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $0.30 annualized dividend and a yield of 1.17%. ConnectOne Bancorp’s dividend payout ratio (DPR) is 31.58%.

About ConnectOne Bancorp

ConnectOne Bancorp, Inc is a bank holding company of ConnectOne Bank (the Bank). The Bank is a community-based, full-service New Jersey-chartered commercial bank. The Bank offers a range of deposit and loan products. In addition, to attract the business of consumer and business customers, it also provides an array of other banking services.

Institutional Ownership by Quarter for ConnectOne Bancorp (NASDAQ:CNOB)

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