Cornercap Investment Counsel Inc. Sells 27,079 Shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Cornercap Investment Counsel Inc. lessened its holdings in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) by 48.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,327 shares of the financial services provider’s stock after selling 27,079 shares during the period. Cornercap Investment Counsel Inc. owned approximately 0.07% of ConnectOne Bancorp worth $710,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in ConnectOne Bancorp by 19.8% in the first quarter. BNP Paribas Financial Markets now owns 48,504 shares of the financial services provider’s stock valued at $946,000 after purchasing an additional 8,026 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of ConnectOne Bancorp by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 2,143,706 shares of the financial services provider’s stock worth $41,802,000 after purchasing an additional 53,563 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of ConnectOne Bancorp by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,860 shares of the financial services provider’s stock valued at $719,000 after buying an additional 1,535 shares during the last quarter. Kennedy Capital Management LLC grew its stake in shares of ConnectOne Bancorp by 698.1% in the first quarter. Kennedy Capital Management LLC now owns 676,791 shares of the financial services provider’s stock valued at $13,197,000 after buying an additional 591,995 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in ConnectOne Bancorp by 196.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 60,903 shares of the financial services provider’s stock worth $1,086,000 after buying an additional 40,334 shares during the last quarter. Institutional investors own 67.70% of the company’s stock.

ConnectOne Bancorp Stock Performance

NASDAQ:CNOB opened at $27.09 on Friday. The stock has a 50 day simple moving average of $25.40 and a 200 day simple moving average of $22.36. The stock has a market cap of $1.04 billion, a P/E ratio of 15.57 and a beta of 1.25. ConnectOne Bancorp, Inc. has a 1-year low of $17.07 and a 1-year high of $29.02. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.07.

ConnectOne Bancorp Announces Dividend

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 issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Friday, November 15th. ConnectOne Bancorp’s dividend payout ratio is currently 41.38%.

Analysts Set New Price Targets

A number of research analysts have recently commented on CNOB shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $26.00 price objective (up previously from $22.00) on shares of ConnectOne Bancorp in a research report on Friday, July 26th. Piper Sandler upped their price objective on ConnectOne Bancorp from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, StockNews.com upgraded ConnectOne Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

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.