California Public Employees Retirement System reduced its holdings in ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 13.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,000 shares of the financial services provider’s stock after selling 3,900 shares during the period. California Public Employees Retirement System owned 0.08% of ConnectOne Bancorp worth $564,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of CNOB. Legal & General Group Plc increased its stake in ConnectOne Bancorp by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 7,868 shares of the financial services provider’s stock valued at $177,000 after buying an additional 300 shares during the last quarter. Trexquant Investment LP acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $227,000. GSA Capital Partners LLP acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $244,000. Aperio Group LLC increased its stake in ConnectOne Bancorp by 28.2% in the 2nd quarter. Aperio Group LLC now owns 11,542 shares of the financial services provider’s stock valued at $260,000 after buying an additional 2,541 shares during the last quarter. Finally, Context BH Capital Management LP acquired a new stake in ConnectOne Bancorp in the 2nd quarter valued at $354,000. Hedge funds and other institutional investors own 65.02% of the company’s stock.
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ConnectOne Bancorp, Inc. (NASDAQ:CNOB) opened at $26.85 on Tuesday. The firm has a market cap of $851.61, a PE ratio of 16.12 and a beta of 0.97. ConnectOne Bancorp, Inc. has a 52 week low of $21.04 and a 52 week high of $27.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.98.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, October 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.12%. ConnectOne Bancorp’s dividend payout ratio is presently 31.58%.
Several equities research analysts have issued reports on CNOB shares. BidaskClub lowered shares of ConnectOne Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Piper Jaffray Companies restated a “buy” rating and set a $29.00 price objective on shares of ConnectOne Bancorp in a research note on Thursday, October 12th. Keefe, Bruyette & Woods restated a “buy” rating and set a $32.00 price objective on shares of ConnectOne Bancorp in a research note on Thursday, October 26th. Finally, 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $30.38.
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.
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