Wilmington Savings Fund Society FSB Invests $305,000 in ConnectOne Bancorp, Inc. (NASDAQ:CNOB)

Wilmington Savings Fund Society FSB bought a new position in shares of ConnectOne Bancorp, Inc. (NASDAQ:CNOB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,174 shares of the financial services provider’s stock, valued at approximately $305,000.

Several other institutional investors and hedge funds have also made changes to their positions in CNOB. Bank of New York Mellon Corp raised its holdings in shares of ConnectOne Bancorp by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 218,936 shares of the financial services provider’s stock valued at $4,136,000 after acquiring an additional 5,186 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of ConnectOne Bancorp by 8.2% in the second quarter. Principal Financial Group Inc. now owns 21,130 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 1,606 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new stake in shares of ConnectOne Bancorp in the second quarter valued at about $171,000. Victory Capital Management Inc. raised its holdings in shares of ConnectOne Bancorp by 14.8% in the second quarter. Victory Capital Management Inc. now owns 56,000 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 7,200 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in ConnectOne Bancorp by 15.6% in the second quarter. American Century Companies Inc. now owns 633,599 shares of the financial services provider’s stock worth $11,969,000 after purchasing an additional 85,437 shares in the last quarter. 67.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on CNOB. StockNews.com upgraded shares of ConnectOne Bancorp from a “sell” rating to a “hold” rating in a report on Monday, November 18th. Keefe, Bruyette & Woods boosted their target price on shares of ConnectOne Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

ConnectOne Bancorp Price Performance

Shares of CNOB stock opened at $25.58 on Wednesday. ConnectOne Bancorp, Inc. has a fifty-two week low of $17.07 and a fifty-two week high of $29.31. The firm has a market capitalization of $981.50 million, a price-to-earnings ratio of 14.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $26.40 and its 200-day simple moving average is $23.48.

ConnectOne Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.81%. ConnectOne Bancorp’s payout ratio is 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.